Cheapflights has appointed LongAcre Partners Limited (“LongAcre”) to advise it in relation to its strategic options. Cheapflights is the leading UK and North American internet qualified lead generation company focused on air travel. It pioneered online flight price comparison in 1996.
As an internet company which has been consistently profitable since its launch in 1996, Cheapflights has achieved its dramatic growth, including in the United States, from internally generated cash flow. LongAcre Partners’ role will be to advise the Company on its funding strategy, including an assessment of the relative attractiveness of private equity investment; IPO; or strategic partnerships.
David Soskin, CEO of Cheapflights, commented:
“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.”
Commenting further, Eric Lawson-Smith, Managing Director of LongAcre Partners added:
“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’ prov en international business model and blue-chip customer base makes it an ideal platform for further international expansion. Cheapflights is one of the most successful internet vertical search and qualified lead generation players operating on both sides of the Atlantic. We are delighted to be advising the Company at this exciting stage in its development.”