New Capital in European Leader in Travel Technology to Further Drive Expansion Plans
General Atlantic, Holtzbrinck Ventures and Daimler Participate in New Investment Round
Munich/London – December 16, 2016 – FlixBus, one of Europe’s leading innovators in travel technology, and Silver Lake, the global leader in technology investing, today announced that Silver Lake has made a strategic investment in the company. Existing investors General Atlantic, a leading global growth investor, Holtzbrinck Ventures and Daimler also participated in the investment round.
Revolutionizing European long-distance travel since 2013, FlixBus is a provider of convenient, affordable, and safe intercity bus travel to more than 60 million passengers since inception, through 100,000 daily connections to 1,000 destinations in 20 countries across Europe. The company works with more than 250 independent bus partners to offer a comprehensive network in Germany, France, Italy, Austria, and the Netherlands, as well as cross-border services to countries including Scandinavia, Spain, and the UK.
The FlixBus e-commerce and technology platform provides a high-quality customer experience, and enables the company to work effectively with its independent bus partners who operate the network while FlixBus focuses on network and capacity planning, quality management, and sales and marketing. Powered by a superior technology, the company offers paperless travel, booking and delay management on its mobile app, data driven network development, and dynamic pricing similar to airlines.
“We have created an innovative, entrepreneurial and powerful European mobility offering that continues to change the way people travel,” said Jochen Engert, co-founder of FlixBus. “We look forward to working in partnership with Silver Lake, a leading investor that brings technology industry expertise and value creation capabilities. This strategic alliance, along with our continued partnership with General Atlantic, is an acceleration point for both our company and our customers as we expand the business into new markets and strengthen our technology platform.”
“FlixBus is using technology and data analytics in innovative ways to provide consumers with a quality intercity transport service, working very effectively with a large group of independent bus partners to provide the service,” said Simon Patterson, Managing Director at Silver Lake. “There’s a tremendous opportunity to continue to develop the offering and expand in new countries, and we look forward to supporting the company’s technology innovation and growth. The company has already completed a number of acquisitions and Silver Lake is well positioned to support the company with further capital for M&A.”
“FlixBus has seen success by leveraging its technology and quality innovations, to deliver a best-in-class service to over 60 million passengers and its bus partners,” said Jörn Nikolay, Managing Director and Head of Germany at General Atlantic. “Having supported the founders on FlixBus‘ growth path over the last years, we are excited to continue our partnership in this next chapter, now joined by our new partner Silver Lake.”
Since the German long-distance bus market was deregulated in 2013, FlixBus has been connecting major European cities and towns with its daily scheduled services and its comprehensive long-distance bus network. The mobility provider and its green long distance-buses are supported by an international team of nearly 1,000 employees throughout Munich, Berlin, Paris, Milan and Zagreb as well as thousands of bus drivers based all over Europe. Roughly 60 million travelers have already traveled with FlixBus, 30 million in 2016 alone. The company currently connects nearly 1.000 destination cities in 20 countries – with around 100,000 trips daily, often departing every 30 minutes. www.flixbus.com
About Silver Lake
Silver Lake is the global leader in technology investing, with over $24 billion in combined assets under management and committed capital. The firm’s portfolio of investments collectively generates more than $145 billion of revenue annually and employs more than 300,000 people globally. Silver Lake has a team of approximately 100 investment and value creation professionals located in New York, Menlo Park, San Mateo, London, Hong Kong and Tokyo. The firm’s current portfolio includes leading technology and technology-enabled businesses such as Alibaba Group, Ancestry, Avaya, Broadcom Limited, Cast & Crew, Cegid, Ctrip, Dell, Fanatics, Global Blue, GoDaddy, Intelsat, Motorola Solutions, Quorum Business Solutions, Red Ventures, Sabre, Smart Modular, SolarWinds, Symantec, Vantage Data Centers, and WME/IMG. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo and Singapore. www.generalatlantic.com