Merger creates fifth largest travel site
The merger of the two biggest brands in travel search could mean more comprehensive rates and availability data, a larger portfolio of products and services and an overall improved customer experience, according to Kayak.com and SideStep.com.
Kayak, the world’s largest travel search engine, said it will use $196 million in new financing to complete the merger. The move will create the fifth largest travel site.
“Kayak.com’s merger with SideStep.com reshapes the largest sector in online commerce,” said Michael Moritz, a partner at Sequoia Capital, who is joining Kayak’s board of directors.
As the fifth largest travel brand, the site will have more monthly visitors than Price and every airline except Southwest. The site will also beat out every hotel and rental car brand. Consumers will conduct more than 33 million searches on Kayak.com and its affiliates in January 2008, up from 16 million in January 2007, according to the company.
Kayak.com intends to maintain both the SideStep.com and Kayak.com brands and will develop and promote each site independently, with key SideStep.com personnel joining Kayak.com’s team, according to the company.
“The commercial logic of this deal is obvious,” said Steve Hafner, Kayak.com CEO and co-founder. “Kayak.com is a technology company focused on perfecting travel search, and SideStep.com is a media company with in-house sales expertise and user-generated content. By merging, each brand can improve its offering while continuing to focus on its individual strengths.”
He said there is less than 10% overlap between existing Kayak.com and SideStep.com users, so each site stands to gain millions of new users. “Kayak.com’s focus on customer service and rapid innovation has led to the best air and hotel search technology on the web,” said Paul English, CTO and co-founder of Kayak.com. He added:
“Combined with SideStep.com’s travel guides and hotel reviews, both sites have a more complete offering for travelers than ever before.”
Report by David Wilkening
David
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