NEW YORK — American Express Global Business Travel is going public via combination with Apollo Strategic Growth Capital.
The combination of GBT, the world’s leading B2B travel platform, and APSG is expected to create the world’s largest publicly traded B2B travel platform, which will list on the New York Stock Exchange.
Becoming a public company positions GBT to accelerate its existing growth strategy, while providing additional investment capacity and flexibility to create more value and choice for customers, according to the company.
“Becoming a public company will be a historic milestone on GBT’s growth journey,” says Paul Abbott, GBT’s CEO. “Commitments from new investors like Zoom, Sabre, Apollo, Ares and HG Vora are a huge vote of confidence in our business and the future of business travel, and meetings and events. We expect that becoming a listed company will give us the additional investment capacity to strengthen our commitment to providing unrivaled value, choice and experiences to our customers and partners.”
Communications platform Zoom and GDS Sabre are among the investors. Zoom CFO Kelly Steckelberg said: “We are thrilled to invest in GBT and look forward to working with their talented team as they strive to deliver innovative and engaging virtual, face-to-face, and hybrid meeting and event experiences. Companies are increasingly looking for experts and best-in-class technology solutions for meetings and events in the new hybrid world, as evidenced by the demand for Zoom Events.”
“Our companies share a relentless focus on the customer experience, and we are excited to leverage our Zoom Events solution to collaborate with GBT to bring unmatched meeting services to businesses of all sizes around the world,” she added.