3x valuation with zero team attrition

HBX Group (formerly Hotelbeds) was growing fast, but technical challenges were holding them back. With a hard ceiling of 5 billion searches per day and 20 years of technical debt, the team chose to upskill its engineers through the O’Reilly learning platform rather than replace them.

Working together

Challenges and solutions

The challenge

  • 5 billion search ceiling Platform hard-capped at 5 billion searches per day, limiting growth capacity and IPO readiness
  • Two decades of debt Two decades of technical debt requiring urgent infrastructure modernization
  • Modernize without knowledge loss Transform engineering skills at scale without losing institutional knowledge

The O’Reilly solution

  • Skills for modernization Trained engineering teams on new technologies to modernize infrastructure
  • Training for the job Focused training on technologies its teams would need on the job
  • Reskill and retain Retained the full existing engineering team through reskilling rather than rehiring

Results

Here’s how investing in learning translated into measurable business results.

  • 5B to 10B+ searches per day, with no remaining capacity limit
  • 0 minutes of system downtime, down from 882 minutes
  • 40% reduction in on-call services
  • $1.7B to approximately $5B in company valuation, with zero team attrition

Takeaway

HBX Group proved that the fastest path to an IPO isn’t always hiring more engineers

Sometimes it’s investing in the ones you already have. With O’Reilly, the team transformed its platform, eliminated 20 years of technical debt, and nearly tripled its value without losing a single person.

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