Image may be NSFW.
Clik here to view.
Skyscanner began life as a small start-up but the international travel search company really took off and became a global first class business with the help of venture capital.
The firm started life when programmer Gareth Williams discovered that finding a cheap flight on the internet was anything but “plane” sailing.
He came up with the idea of a system to search multiple websites for the best possible price. After teaming up with co-founders Bonamy Grimes and Barry Smith, they launched Skyscanner in 2001.
After being backed by UK Venture Capital Firm Scottish Equity Partners (SEP), the Edinburgh-based company has gone from strength to strength. That’s because venture capital grows the businesses it invests in.
Last year Skyscanner doubled its staff to more than 250 workers and is now on track to employ 500 over the course of next year. It is the world’s fastest growing international travel search company, attracting more than 25 million users a month. Gareth Williams said “We have had great support from SEP. Together we have built Skyscanner into the world’s best travel search platform”.
Such success has not gone unnoticed. Last month in a deal valuing the company at EUR 600m, Sequoia Capital, an experienced Silicon Valley investor partnered with Skyscanner and SEP through a secondary investment. Sequoia’s expertise will help take the firm to even greater heights.
And with two great venture backers on board – the sky really is the limit for Skyscanner!
To find out more about how venture capital can grow innovative businesses, click here. If you are looking to invest in European VC, check out our report Smart Choice.
