Turismocity acquires Farecompare.com in the United States
With this operation, the company founded in Argentina and with a presence throughout Latin America will expand to more than 15 countries where Farecompare has operations
Turismocity, the largest travel metasearch engine in Latin America, announced the acquisition of Farecompare, a company with a large global presence founded in 2004 in Dallas by Rick Seaney and Graeme Wallace, and with a long history in the world of online travel.
This purchase makes the company a global player, adding markets such as the United States, the United Kingdom, Canada, Australia, India, the Philippines, the United Arab Emirates, and South Africa, where Farecompare is very important. In addition, it allows it to accelerate its growth in countries such as Mexico, Brazil, Argentina, Chile, Colombia, and Peru, where it already has a large number of users and commercial partners.
In 2019, Farecompare received more than 50 million unique visits, which added to the 80 million visitors to Turismocity, will allow the company to double its size in a very short time.
Our goal is to maintain Farecompare's brands and domains and strengthen its size, taking advantage of synergies, sharing technologies, own products, and know-how of both companies. comments Julián Gurfinkiel, Co-founder and CMO of Turismocity.
Farecompare works similar to Turismocity, makes it easier for travelers to plan their trips at the lowest possible cost, offers and compares hundreds of options from travel agencies, airlines, and hotels, among others. The business model of both companies is the same, it allows other travel companies to advertise, position themselves, and generate sales through their platforms.
"From Turismocity we have been working with Farecompare for some years, obtaining very good results and that was one of the reasons that drove us to move forward with the acquisition," says Gurfinkiel.
“This acquisition makes sense from a strategic and technological point of view, as both companies complement each other very well. Turismocity and Farecompare do not compete with each other in markets where each is stronger. We are going to incorporate our technology for detecting offers in real time that has given us such good results at Turismocity to empower Farecompare and make more and more people in the world pay less to travel. " Andrés Malenky Co-Founder and CEO of Turismocity.
“The travel industry is experiencing an unprecedented year. The company will go through this unique situation with a much stronger, more diversified and global structure ”, closes Martín Levy Co-founder and CCO of Turismocity.