What is Orbitz?
Founded in 2001, Orbitz, Inc. has established itself as a comprehensive provider of travel services, offering a wide array of products including airline tickets, lodging, car rentals, cruises, and vacation packages. The company caters to a global clientele, with its headquarters situated in Chicago, Illinois. Orbitz's business model focuses on aggregating travel options to provide consumers with convenient booking solutions. The company's journey has been marked by significant financial milestones, reflecting its evolution and expansion within the digital travel landscape.
How much funding has Orbitz raised?
Orbitz has raised a total of $660M across 3 funding rounds:
Series A
$100M
Series B
$50M
Stock Offering
$510M
Series A (2000): $100M with participation from United Airlines, Delta Air Lines, and AMR Corp.
Series B (2001): $50M led by Hawaiian Airlines, The Vanguard Group, US Airways, and Spirit
Stock Issuance/Offering (2007): $510M, investors not publicly disclosed
Key Investors in Orbitz
Hawaiian Airlines
Hawaiian Airlines Inc is Hawaii's largest and longest-serving airline, offering extensive domestic and international flight services. Their investment suggests a strategic interest in integrated travel offerings or partnerships within the broader travel ecosystem.
The Vanguard Group
Vanguard is a leading investment management company known for its low-cost index funds and ETFs. Their participation indicates a broad market investment strategy, potentially viewing Orbitz as a stable, long-term asset within the travel sector.
US Airways
US Airways, a major airline carrier, likely invested to foster strategic alliances or secure preferred distribution channels within the online travel agency market, aligning with their broader network expansion goals.
What's next for Orbitz?
The recent major strategic investment signals Orbitz's intent to further enhance its service offerings and potentially expand its market reach. This capital infusion is likely to be directed towards technological advancements, platform optimization, and strategic partnerships aimed at improving customer experience and operational efficiency. As a company that has navigated various market cycles, Orbitz's continued access to significant funding suggests a robust strategy for adapting to evolving consumer demands and competitive pressures in the global travel market.
See full Orbitz company page
