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Cheapflights weighs up IPO among strategic options
Online price comparison company Cheapflights has appointed advisors to consider potential future options including an IPO.
Other possibilities include private equity investment or strategic partnerships for the company which was established 11 years ago and has been consistently profitable
CEO David Soskin, announcing the appointment of independent corporate finance advisory house LongAcre Partners, said: “We are looking to LongAcre to advise us on the optimum way to fuel our future growth, as well as to reward our shareholders and staff.
“We have no preconceptions as to the manner in which this can be achieved. Cheapflights is currently experiencing dramatic growth in Europe and North America.
“In considering our strategic options, LongAcre will take into account not only our shareholders and dedicated employees, but also the interests of our millions of users and the hundreds of travel industry advertising partners whose loyalty has been such a vital component of our success to date.”
LongAcre managing director Eric Lawson-Smith said: “Cheapflights is one of the UK’s most successful online properties. It is one of very few European internet companies to have been truly successful in the demanding US market.
“Its strategic position as one of the most active providers of qualified leads to the travel industry places the company firmly at the heart of the most exciting and valuable part of the internet value chain.
“Cheapflights’ proven international business model and blue-chip customer base makes it an ideal platform for further international expansion.”
by Phil Davies
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