Transportation

Amex-Backed Corporate Travel Firm to Sell to Startup Backed by General Catalyst, Alpha Wave

Amex GBT competes in the lucrative but fragmented business-travel market.
Photographer: Mark Felix/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Liana Baker, Ryan Gould, and Dinesh Nair

May 4, 2026 at 11:00 AM UTC

Updated on

May 4, 2026 at 12:08 PM UTC

A startup backed by General Catalyst Partners agreed to acquire Global Business Travel Group Inc., the travel platform spun out of American Express Co., in a deal worth about $6.3 billion.

Long Lake Management agreed to pay $9.50 per share in cash for the Amex-backed business-travel company, according to a statement Monday, confirming a Bloomberg News report. That represents a 60% premium to its closing price on Friday.