Post-Google: The Economic Reality of Flight Search Revealed
The travel industry has seen significant changes in recent years, particularly after Google's influence on the market. Three companies, Skyscanner, Kiwi.com, and Wego, have built their businesses around helping people find flights. A closer look at their latest private company filings reveals what these companies are worth after Google's impact.
Skyscanner, a UK-based company, has generated roughly £485 million ($660 million) in revenue last year and is highly profitable. In contrast, Kiwi.com, based in the Czech Republic, has experienced two years of falling revenue and major cost cuts. The company also has a €100 million ($116 million) convertible bond coming due next June.
Wego, based in Singapore, has seen its revenue double in two years but has struggled with operating margins, which have fallen almost to zero. Together, these companies offer insight into the business of flight search after Google's influence.