Webjet Limited (“Webjet”) was founded by David Clarke in 1998 - beginning as a small start-up in Australia, seeking to disrupt traditional norms in the highly competitive online travel industry.
In just over 10 years, Webjet online travel agency (OTA) had become the #1 OTA in the Australian and New Zealand market. It has remained the #1 OTA ever since, fuelled by a culture founded on customer focus, innovation and creativity.
In 2000, the company went public on the Australian Securities Exchange (ASX), and since then has raised approximately $780m in follow-on capital and paid out over $250m to its shareholders.
Now, Webjet is realising its full potential with a demerger seeing its B2B and B2C business split into two listed entities: the B2B Web Travel Group Limited (ASX:WEB) and the B2C Webjet Group Limited (ASX:WJL).
Making travel easier for all
Since its founding, Webjet OTA has aimed to offer the greatest convenience and choice to its customers. The company has a long history of taking unique content from different sources and delivering it to customers in an easy-to-use format - making booking trips as easy as possible. As technology has evolved since the late 90’s, Webjet OTA has stayed at the forefront of innovation.
In the early 2000’s, Webjet OTA brought one of the world’s first Travel Service Aggregation technologies to market, collating different travel products in one place for consumers. Additionally, it released the first domestic and international matrix presentation of flights, allowing consumers to mix and match fares across airlines to get the best and most convenient flights available.
In 2012 the ability to earn points to access flights with Flybuys was introduced, followed by NAB Rewards in later years. And in 2018-2020 Webjet integrated machine learning capability to leverage data - personalising travel opportunities for customers, and also became the first Australian OTA to offer a carbon-offset program for flights and hotels.
New marketplaces for every kind of traveller
Throughout the years, Webjet tapped into new lines of business including WebBeds, a B2B platform providing distribution solutions to wholesale customers; GoSee, its vehicle rental business; and Trip Ninja, providing application program interfaces (APIs) to travel companies to improve their booking technology.
Demerger to release value
In May 2024, after announcing a record FY24 result, Webjet announced it was exploring a demerger of its two travel divisions, the B2B business WebBeds and the B2C businesses Webjet OTA, GoSee and Trip Ninja. The decision reflected the attractive but divergent growth opportunities available to the respective divisions and aimed to enable them to make optimal investment decisions through independent capital structures.
On 17 September 2024, Webjet shareholders voted overwhelmingly in favour of the demerger, resulting in two independent and simplified companies – the parent company Webjet has been renamed WEB Travel Group Limited (ASX:WEB) and operates the WebBeds B2B business, while the demerged entity Webjet Group Limited (ASX:WJL) comprises the B2C businesses of Webjet OTA, GoSee and Trip Ninja.
Post demerger, each company has increased focus and an improved ability to pursue its own strategic priorities and plans for growth.
In preparation for the demerger, Katrina Barry stepped down from the Webjet board to take up the position of Managing Director of Webjet Group Limited. Katrina brings significant experience leading transformational growth and rejuvenating iconic brands across travel and digital technology sectors. Commenting on the opportunity Katrina said:
“I am hugely excited to take up this position. The travel industry has strong underlying fundamentals, and I see real potential to take these great businesses to the next level. The demerger means Webjet Group now has its own dedicated board, leadership team and balance sheet, creating a unique opportunity to advance our strategic growth agenda. The entire team is focused and ready, and I'm excited to build on our strong foundations as we continue driving positive outcomes across the company. Webjet OTA, GoSee, and Trip Ninja each have a clear, distinct growth strategy that we are eager to pursue.”
The market is excited to see these two businesses deliver on the promise of their new independent structure.
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