Skyscanner doubles its revenues to £66m

Skyscanner doubled its revenues to £66m last year as the Edinburgh-based flight comparison website increased its spending on marketing and technology to fend off rivals including Google and Priceline.

Gareth Williams, Skyscanner chief executive and co-founder, said the company’s global user base doubled over the past year to 25m unique visitors a month, with particularly rapid growth in Asia.

“I can easily see the day when Skyscanner has more business in Asia than in Europe,” he said.

Asia now accounts for 20 per cent of the company’s users, up from just 6 per cent two years ago, he added.

Over the past year the company increased its workforce by 200 to 400, opening new offices in Miami, Glasgow and Barcelona and expanding its branches in Edinburgh, Singapore and Beijing.

Sequoia Capital, the Silicon Valley venture capital group, last October acquired a stake in Skyscanner that values the Scottish company at $800m.

The company said its earnings before interest, tax, depreciation and amortisation for 2013 is likely to be £24.1m, up from £12m in 2012.

The online travel market was still “at a very early stage”, Mr Williams said, adding that the company wants to retain its independence for the time being and had no plans for an initial public offering.

Skyscanner increased its revenue by 96 per cent to £65.8m in the year ending December 31 2013, its fastest revenue growth in three years.

The company increased its spending on employees by 110 per cent and its marketing spend by 107 per cent over the year.

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