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September 2022, Virtual
September 29 2022, Virtual
Expedia has purchased a majority stake in London-based rail technology firm Silverrail for an undisclosed price.
The online travel giant already works with Silverrail to offer online booking for rail to Expedia’s users.
Expedia CEO Dara Khosrowshahi said: “Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is one of the fastest growing areas of innovation in the $1.3 trillion travel market, and SilverRail is powering that innovation.”
Silverrail, which was founded by Aaron Gowell and Will Phillipson in 2009, also has offices in Boston, Stockholm and Brisbane.
The company operates a platform for global rail distribution that handles more than one billion online rail searches per year and processes 25 million bookings annually across 35 train operators. Silverrail currently has around 1,500 corporate clients around the world.
Aaron Gowell, Silverrail’s CEO, added: “The investment by Expedia will make our business bigger, stronger, and faster in executing current commitments and meeting the demand of new business.
“We were looking for an investor and partner that understood our ambitions and was committed for the long term. Expedia is an ideal fit for us, as it sees the huge potential in rail and has a history of keeping its brands nimble.”