Expedia-backed OTA Despegar raises $254 million from IPO
Despegar‘s Q3 2017 financials saw it increase revenues by 24% to $131.5 million, gross bookings up 32%, and packages, hotels, and other travel products made up 55% of the total revenue.
Despegar's Q3 2017 financials - the first disclosure since its IPO - saw it increase revenues by 24% during the period year-on-year to $131.5 million.
The filing saw increases in nearly every division of their company between Q3 2016 and the same segment this year:
There was a YoY increase in transactions of 25%.
Gross bookings up 32% YoY to $1.1 billion.
Mobile transactions were up 55% YoY, and currently make up nearly 30% of the company's transactions.
Packages, hotels, and other travel products made up 55% of the total revenue, up from 49% in the previous year.
There have been more than 35 million downloads of the Despegar.com app, up 42% YoY.
Dubbed as a "unicorn" of a company - much like Mercado Libre and Globant before it - Despegar's current market value is approximately $1.8 billion, and is the first Argentinian IPO of 2017 (and only the third IPO held by an Argentinian company since 2015).
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