NEW YORK, March 9, 2011 /PRNewswire/ --
- New Round of Funding from Existing Investors and New Investor Cape Capital Fuels Additional Growth
Vayant, the next-gen airfare pricing engine, today announced the appointment of Brian Clark as its new Chief Executive Officer. A proven leader with nearly 20 years of success building industry-defining businesses, Clark is assuming the position, effective immediately, from Atanas Christov, as part of an ongoing succession plan. Clark had previously been appointed to Vayant's Board of Directors.
Clark's specialty is building value through efficient and disciplined delivery of advanced consumer-oriented technologies that meet consumer needs. His experience spans multiple travel touch points, from network airlines to award-winning LCC airlines to online travel distribution, in both the U.S. and Europe.
"Today more than ever, air travel distribution companies need to create a compelling and more relevant online guest experience," said Clark. "Vayant has emerged as the premier partner for helping air travel distributors understand how to serve the most relevant itineraries based on consumer preference and expanded itinerary choice. As new search engines continue to emerge, my goal is to enable Vayant to be an even more agile and innovative partner for air travel distributors by bringing world-class solutions that enable our clients to better serve consumer need."
Prior to joining Vayant, Clark served as General Manager of Fly.com, the startup air travel meta-search site. In this role, Clark was responsible for launching Fly.com in the US and Europe, including the business plan development, product planning, marketing, and partner relations. Prior to launching Fly.com, Clark was the first commercial planning officer for Virgin America, the San Francisco-based, award-winning low fare carrier that launched and grew to over $400 million during his tenure. He was responsible for the development and implementation of all commercial planning functions including route network planning & scheduling, pricing and revenue management, distribution, sales, and loyalty marketing. Brian began his career with US Airways where he held roles of increasing responsibility in revenue and schedule planning as well as operations.
In addition, the Company is pleased to announce that Vayant's principle investor, NEVEQ LP, and external investor Cape Capital, a multibillion Swiss investment management firm, have committed additional funds that provide Vayant substantial financial runway, allowing Vayant to enter its next growth phase with ample cash-on-hand.
"As Vayant's new CEO, Brian brings a passion for building businesses that deliver unique and sustainable value. We are committed to his leadership and confident that with his experience, strong execution skills, and leadership, Vayant will continue its growth well into the future," said Alex Vukajlovic, CEO of Cape Capital.
"And as Brian takes on our future growth, we thank Atanas Christov for his energy and vision which has enabled Vayant to build the leading air travel search and shopping engine of the next generation. Wewant to thank Atanas for his hard work, dedication, and leadership," said Pavel Ezekiev, Managing Partner of NEVEQ LP.
About Vayant Travel Technologies LLC
Vayant is an airfare search and shopping engine. Developed from scratch, Vayant's flagship product OneSearch(TM) delivers personalized search results and increased itinerary options to improve the end user experience, increasing customer look-to-book ratios, increasing revenues, and cutting costs. We sell our product to travel distribution companies such as airlines, meta-search engines, online travel agencies, and tour operators.
(c) 2011 Vayant. All rights reserved.
SOURCE Vayant Travel Technologies LLC