If you have done a stint living in London, then the chances are quite high that you used Lastminute.com for some, err, last minute entertainment bookings.

Well, it’s had quite the little story…

Founded by Martha Lane Fox and Brent Hoberman in October 1998, it was bought by US tech firm Sabre Holdings in 2005. In a matter of weeks, Lastminute.com (which was on the London Stock Exchange and valued at £768m) dropped astronomically in value.

It has taken years to build up the brand again and make a “pre-tax profit”. And this is why the Swiss firm Bravofly Rumbo was able to buy Lastminute.com for £76m.

The CEO of Bravofly has said the firm is a “perfect fit”.

Its business complements and expands our offering in Europe and, with its strong presence in the hotel and vacation sector, diversifies our product revenue streams.

They will be taking over all global operations in the UK, France, Germany, Spain and Italy.

Check out The BBC