JAYRIDE is plotting its expansion into the America, after agreeing to purchase AirportShuttles.com, the leading top level domain name and website for online airport shuttle bookings in the US.
The A$303k acquisition, which is expected to be completed in February, will see Jayride take ownership of the company’s assets
including its domain name, broader technology, IP, as well as existing website traffic.
Jayride was the exclusive supplier of rides to AirportShuttles.com before COVID, between Nov 2019 and Feb 2020. During this period, the Aussie airport transport business earned an average net revenue of A$0.49 for every website session, and $10.27 for every Jayride ride booked.
Before the global pandemic took hold, the website attracted 1.83 million user sessions per year – a figure which has shrunk down to 279,000 per year due to the effects of COVID, prompting the owner of AirportShuttles.com to file for bankruptcy in May 2022.
Around 70% of the website’s traffic and revenue is sourced from the US market, with Jayride believing that the domain will also be relevant to opportunities beyond the United States.
The company said it anticipates an immediate revenue uplift, contribution profits, and cash flows once AirportShuttles.com is integrated into its existing assets, at only a minor cost.
Jayride Group co-founder and Managing Director, Rod Bishop, lauded the acquisition as “a compelling fit with our growth strategy to build the world’s leader in rides for travellers”.
“The traffic to the AirportShuttles.com website enhances the scale of our group, particularly in the United States, and accelerates our path to being cash flow positive.”