Momondo Group, founded by E2E member Hugo Burge, is a Global Metasearch company, comparing flight, hotel and car hire prices to help customers find the best deals. Momondo group, which comprises of both Momondo and CheapFlights (the name in which it was founded), achieved an impressive $30 million in the first quarter of 2016, a 23% year on year jump from 2015. How did Momondo Group become so successful, and what makes it stand out from similar companies?
The CheapFlights/Momondo merger came as a result of the company’s main goal, which was long term, sustainable growth, in 2010. Already an online travel player in Canada and the US, CheapFlights believed this acquisition, although not an easy option, would help achieve long-term growth. Momondo, a smaller Dutch company based in Copenhagen was the perfect fit for CheapFlights’ ambitions. CheapFlights adopted the Momondo name, created a shared culture between the two businesses and became Momondo Group.
Burge believes Momondo Group differentiates itself from competitors through its ‘passionate and edgy’ advertising and aim to offer customers truthful, unbiased metasearch. He goes onto say that most of the revenue is based on transactions (cost per acquisition) rather than advertising (cost per click), highlighting the focus on generating loyalty in the form of repeat visitors, rather than volume.
After witnessing the remarkable growth of Momondo Group this year, we're looking forward to seeing how the company continues to grow in the first quarter of 2017 and throughout the year.