Momondo Group Is Still Spending Big to Fund Expansion
Skift Take
The Momondo Group knows it has to spend big to catch up with the competition. Its growth caught the attention of the Priceline Group, which will be hoping the acquisition, if approved by regulators, will help boost its European metasearch operation.
European metasearch company Momondo Group’s decision to plough money into advertising and marketing to grow the business appears to be paying off.
Not only did the approach substantially boost revenues in 2016 but it also persuaded the Priceline Group to shell out $550 million to buy it.
Steve Hafner, the CEO of Priceline's Kayak, said recently that the Momondo Group "out-executed" Kayak in brand-building in several European countries and that Kayak hopes to learn a few things about marketing along the way.
London-based Momondo Group, which includes Momondo and Cheapflights, has grown steadily over the past few years and according to recently released accounts generated revenue of
