Based in Helsingborg, Flygstolen is an online platform for traveling services that has been around since 2004. The company is also known under name Tripmonster in Denmark and Norway. The latest 5 years Flygstolen has gone through a rapid growth, increasing its revenue from 182 mln SEK (1 9mln euro) in 2011 to 1 572 mln SEK (over 160 mln euro) last year. And now the company stroke an acquisition deal with Dutch Otravo for undisclosed sum.
According to the founder, CEO and previously the major shareholder Linda Bjernstål, Flygstolen aims to become the largest platform in the Nordics.
”We want rapid organic growth and for that we need more resources, especially in light of growing competition that is quite strong,” – shared Linda Bjernstål about the acquisition in the interview with DiDigital.
Flygstolen acquisition has been also discussed with a few companies but it is with Dutch Otravo that the match felt right. Otravo’s insights about the traveling industry, resources and knowledge about growth, marketing and branding will be complimentary to Flygstolen’s experience.
Otravo owns the digital travel companies Vliegtickets.nl, WTC.nl and Schipholtickets.nl and is the market leader in the Benelux countries. After the transaction reaches Otravos companies represent a turnover of 500 million euros, equivalent to more than 4.7 billion SEK