Price comparison site Kayak is looking to grow this year through potential acquisitions in Europe. Speaking to Travolution the company revealed plans to double the size of the business by the end of 2009. According to the company it has already achieved record revenue and traffic figures in January with a target of hitting one…
Kayak aims to buy in Europe in 2009
Price comparison site Kayak is looking to grow this year through potential acquisitions in Europe.
Speaking to Travolution the company revealed plans to double the size of the business by the end of 2009.
According to the company it has already achieved record revenue and traffic figures in January with a target of hitting one billion searches by the end of the first quarter.
Visits to the UK site have more than doubled year-on-year according to managing director for Europe and Asia, Faisal Galaria, who also said: “We’re looking at how we might grow to the next level in Europe and if you look at how we bought Sidestep in the States, it’s about businesses that are similar, fit in easily, add traffic and increase our presence in key countries.”
Galaria would not be drawn on Kayak’s potential war chest except to say that the company was in a privileged position in terms of profitability.
“We’re extremely well-placed, the balance sheet is strong so, if and when, something comes along…”
He added that current market valuations were also likely to help the company ‘leapfrog’ from its current position.
At a Travolution Question Time in December Galaria said that he saw Kayak as the “instigator” of market consolidation.
