Latest SilverRail Technologies News
Oct 19, 2020
Expedia Group no longer has a rail technology platform in its portfolio following a management buyout of the SilverRail Technologies business. Terms of the MBO have not been disclosed in the deal announced today. The business is now wholly owned once again by the management team, and Expedia Group's strategic interest in rail is over. CEO Aaron Gowell says: "We have also grown into a business largely focused on our rail carrier partners, building products for their direct retail needs as well as third-party distribution. "We are excited about the growth of rail as a sustainable travel choice and looking forward to building on our success in this sector." The company claims to be handling more than one billion online rail searches each year and distributes tickets for more than 35 providers and carriers. Gowell and Will Phillipson created SilverRail, which was initially billed as a GDS for trains, in 2009. In addition to the U.K., it has offices in Sweden, Australia and the United States. Like many other travel startups, SilverRail had a consumer-facing play in the shape of Quno , which was discontinued after a few years. The company raised a modest $69 million over the course of four rounds, in a bid to push its rail ticketing and train operator distribution platform. It later went on to secure a number of deals with online travel agencies to power their rail booking platforms - one being Expedia, which, in 2017, took the company under its wing. Phillipson left in June 2019. * Check this interview with Gowell for the How I Got Here podcast, recorded in August 2019.