Cheapflights

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Cheapflights
London, United Kingdom
OwnerBooking Holdings
Founder(s)John Hatt
David Soskin
Key people
IndustryTravel
URLwww.cheapflights.com
www.cheapflights.co.uk
www.in.cheapflights.com

Cheapflights is a travel fare

Kayak.com subsidiary of Booking Holdings
.

Its websites publish flight prices, and compare prices from suppliers, including major airlines, through tiny travel agents.[1]

Agents advertise on the Cheapflights websites and are charged on a pay-per-click basis for users who link through to their websites.[2]

History

Cheapflights was founded in 1996 by John Hatt.

ABN Amro banker David Soskin and Hugo Burge led a buyout of the website from its founder.[3][5][6] The website was the first in the UK to launch the pay-per-click online advertising remuneration model.[4]

In May 2003, the US website, www.cheapflights.com, was launched.[4] In 2006, the website handled £1 billion in annual travel sales.[7] In April 2007, the Canadian website, www.cheapflights.ca, was launched.[4] In October 2008, the first non-English website, www.cheapflug.de, was launched.[4] Co-founder David Soskin resigned as chief executive to become vice-chairman that same year.[3] In 2009, the Australia / New Zealand website was launched.[8]

In January 2011, the company launched mobile websites.

Facebook Messenger.[18] In October, Cheapflights reorganized some of its staff.[19] In July 2017, Cheapflights and momondo were acquired by Booking Holdings for $550 million.[20]

References

  1. ^ Dunlop, Michael. "David Soskin Interview – Serial Entrepreneur and Investor". Income Diary.
  2. ^ Tedeschi, Bob (28 August 2005). "Finding Air-Fare Gold in the Internet Maze". The New York Times.
  3. ^ a b c Kleinman, Mark; White, Dominic (9 March 2008). "Cheapflights co-founder hands over controls". The Daily Telegraph.
  4. ^ a b c d e "Cheapflights Launches New Website for Australia and New Zealand cheapflights.com.au" (Press release). Business Wire. April 15, 2009.
  5. ^ Hayhurst, Lee (10 October 2011). "'Everything to play for': Hugo Burge on Cheapflights' present and future". Travolution.
  6. ^ Savage, Rachel (18 July 2014). "Cheapflights' owner flies in a £150m sale". Haymarket Media Group.
  7. ^ Martinson, Jane (30 October 2006). "Diller plans to buy up British travel websites". The Guardian.
  8. ^ "Cheapflights Launches Australia/NZ Website" (Press release). Scoop. 15 April 2009.
  9. ^ Schaal, Dennis (January 14, 2011). "Cheapflights gets inspirational and mobile". Phocuswire.
  10. ^ Wauters, Robin (29 March 2011). "Cheapflights invests in travel meta-search site Momondo". TechCrunch.
  11. ^ Fox, Linda (12 November 2012). "Momondo name to carry Cheapflights into non-English speaking territories". Phocuswire.
  12. ^ Schaal, Dennis (14 May 2014). "CEO Interview: Cheapflights and Momondo Attempt a Dual-Brand Strategy". Skift.
  13. ^ May, Kevin (March 29, 2011). "Cheapflights invests in Momondo, axes Zugu". Phocuswire.
  14. ^ "Great Hill Partners Acquires a Majority Stake in Momondo" (Press release). Great Hill Partners. 17 October 2014.
  15. ^ Armstrong, Ashley (17 October 2014). "Cheapflights owner receives £80m cash boost from Boston-based investor". The Daily Telegraph.
  16. ^ "Cheapflights launches in SA". Traveller 24. February 24, 2015.
  17. ^ May, Kevin (24 June 2015). "Goodbye, deals - Cheapflights switches to metasearch after 19 years". Phocuswire.
  18. ^ May, Kevin (June 14, 2016). "Cheapflights puts flight and hotel search into Facebook Messenger". Phocuswire.
  19. ^ Whyte, Patrick (14 October 2016). "Momondo Group Makes Changes at Cheapflights Operation". Skift.
  20. ^ "The Priceline Group Completes the Acquisition of Momondo Group" (Press release). PR Newswire. 24 July 2017.
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