Despegar.com Corp. (DESP)
NYSE NYSE Primary Summary
Prosus and Despegar Complete Acquisition
AMSTERDAM--(BUSINESS WIRE)--Prosus N.V. (Prosus) (AEX and JSE: PRX) and Despegar, Latin America's leading online travel agency, today jointly announce the completion of Prosus's acquisition of Despegar (NYSE: DESP) at a purchase price of $19.50 per share. Completion of the transaction follows approval by Despegar's board of directors and shareholders, and receipt of all required regulatory clearances. The transaction marks a significant milestone in Prosus's strategy to expand and strengthen it.
Despegar.com: B2B Expansion, But Caution Due To Investigations In Brazil
Despegar.com posted a 35% increase in gross bookings and a 94% rise in adjusted EBITDA, with the B2B segment now representing 19% of total operations. The acquisition agreement with Prosus could strengthen Despegar's financial and technological position, pending shareholder and regulatory approval. Potential investigation impacts could adjust the acquisition price. Ongoing investigations into alleged fare fraud in Brazil pose reputational and legal risks. The outcome could impact the company's relationships and long-term valuation.
Despegar and HBX Group Enter Into a Strategic Partnership
BRITISH VIRGIN ISLANDS--(BUSINESS WIRE)--Despegar.com, Corp. (NYSE: DESP) (“Despegar” or the “Company”), Latin America's leading travel technology company, announces a strategic partnership with HBX Group, a leading independent B2B travel technology marketplace. This collaboration marks a relevant step towards expanding Despegar's service offerings, particularly by integrating HBX Group's European and North American non-air inventory into Despegar's platform. Through this partnership Despegar p.
Despegar.com Corp. Profile
| Travel Services Industry | Consumer Cyclical Sector | Damian Scokin CEO | NYSE Exchange | G27358103 Cusip |
| AR Country | 3,956 Employees | - Last Dividend | - Last Split | 20 Sep 2017 IPO Date |
Overview
Despegar.com, Corp. is an innovative online travel company established in 1999, headquartered in Buenos Aires, Argentina. The company has carved a niche for itself by offering a comprehensive range of travel and travel-related products primarily to leisure and corporate travelers in Latin America and the United States. Despegar.com operates through two main segments: Travel Business and Financial Services Business. It leverages its websites and mobile applications to provide a streamlined platform for consumers to access a wide array of travel products, empowering them to find, compare, plan, and purchase with ease. Moreover, Despegar.com extends its technology platform to travel suppliers, enhancing their ability to manage distribution and reach traveler customers effectively.
Products and Services
- Airline Tickets: Offering a broad selection of flights from various airlines, enabling customers to find the best options for their travel needs.
- Travel Packages: Combining flights, hotels, and sometimes car rentals into bundled deals for savings and convenience.
- Hotel Rooms: Access to a wide range of accommodation options, from budget to luxury hotels.
- Car Rentals: Facilitates the booking of car rentals, making it easy to plan road trips or have transportation upon arrival.
- Bus and Cruise Tickets: Offers tickets for bus travel and cruises, catering to different travel preferences and itineraries.
- Travel Insurance: Provides a variety of travel insurance products for peace of mind while traveling.
- Destination Services: Offers additional services at destinations, such as excursions and activities, to enrich the travel experience.
- Financial Services: Including loan origination for travelers and merchant customers, plus processing, fraud identification, and credit scoring services.
- Online Payment and Consumer Lending Services: The Koin platform enables seamless online payments and accessible consumer lending options.
Customers can easily search, compare, and book airline tickets to destinations worldwide, ensuring they get the best deals and flight options aligned with their preferences.
Travelers can take advantage of specially curated travel packages that offer a hassle-free planning experience, often at a lower cost than booking each component separately.
With an extensive selection of hotel rooms available, customers can find the perfect stay to match their budget and preferences, including exclusive deals and offers.
Despegar.com partners with major car rental companies to provide travelers with convenient access to vehicles at their destination, ensuring seamless travel experiences from start to finish.
Whether looking for a leisurely cruise vacation or needing a reliable bus service, customers can book their tickets through the platform, enhancing their journey with more travel options.
Understanding the importance of safety and security, Despegar.com allows travelers to purchase travel insurance, safeguarding their trips against unforeseen events.
Travelers can enhance their trips by booking various destination services through Despegar.com, including tours, activities, and experiences that make every journey memorable.
Beyond travel products, Despegar.com offers financial services such as loan origination to its customers and third-party merchants, accompanied by comprehensive processing, fraud identification, and credit scoring solutions, supporting a seamless travel booking experience.
With Koin, Despegar.com goes a step beyond by facilitating easy online payment solutions and consumer lending services, making travel more accessible and convenient for everyone involved.
Contact Information
