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| Type | Public (NASDAQ: EXPE) |
|---|---|
| Founded | 1995 (As a group in Microsoft - Redmond, WA) |
| Headquarters | Bellevue, Washington, USA |
| Key people | Barry Diller, Chairman Dara Khosrowshahi, CEO |
| Industry | Travel, Technology |
| Products | Expedia.com Classic Vacations Hotels.com Hotwire.com Tripadvisor Egencia |
| Revenue | US$2.937 billion (2008)[1] |
| Employees | 8,050 (2008)[2] |
| Website | www.expediainc.com |
Expedia, Inc. (NASDAQ: EXPE) is an U.S. company headquartered in Bellevue, Washington that operates several travel brands including Expedia.com, Hotels.com, Venere.com, Hotwire.com, Egencia (formerly Expedia Corporate Travel), TripAdvisor, Expedia Local Expert, Classic Vacations and eLong. Expedia, Inc.’s companies operate more than 70 branded points of sale in more than 55 countries. Expedia also powers travel bookings for a number of airlines and hotels, consumer brands, high traffic websites, and thousands of active affiliates through Expedia Affiliate Network. It is part of both the S&P 500 and NASDAQ-100 stock market indices.
Contents |
History
Founded as a division of Microsoft in October 1995,[3] Expedia was spun off in 1999, and was later purchased by TicketMaster in 2001[4] (TicketMaster changed its name to USA Networks in 2001 and then InterActiveCorp in 2003[5]). IAC spun off its travel group of businesses under the Expedia, Inc. name in August 2005, including Expedia, Expedia Corporate Travel (now Egencia), TripAdvisor, Classic Vacations, eLong, Hotels.com, and Hotwire.com.[6]
Officers and directors
- Barry Diller: Chairman of the Board, Senior Executive
- Victor A. Kaufman: Vice Chairman of the Board
- Dara Khosrowshahi: President and CEO, Director
- Michael Adler: Chief Financial Officer, Executive Vice President
- Burke F. Norton: Executive Vice President, General Counsel and Corporate Secretary
- Connie Symes: Executive Vice President, Human Resources
- Pierre V. Samec Ph.D.: Chief Technology Officer
- A. George Battle: Director
- Jonathan L. Dolgen: Director
Products
Egencia
Previously known as Expedia Corporate Travel.
Expedia
Hotels.com
Hotwire
TripAdvisor
Competitors
Mergers and acquisitions
Expedia's first and largest acquisition was Travelscape for US$89.75 million and VacationSpot.com for US$80 million on March 17, 2000. It subsequently acquired Classic Custom Vacations in March 2002 for $78 million. The company has made four divestments, in which parts of the company are sold to another company. On December 31, 2000, Technology Crossover Ventures acquired a 7% minority stake in Expedia for $50 million. USA Networks acquired a 65% majority stake in the company on February 5, 2002, for $1.372 billion, and a year later, on August 8, 2003, USA Interactive acquired Expedia for $3.636 billion. Expedia was ultimately spun off as a separate entity with a value of $7.981 billion. The company made the most acquisitions in 2002, when it acquired three companies: Classic Custom Vacations, Metropolitan Travel, and Newtrade Technologies.[7]
Acquisitions
| Date | Company | Business | Country | Value (USD) | References |
|---|---|---|---|---|---|
| March 17, 2000 | Travelscape | Internet service provider |  United States |
$89,750,000 | [8] |
| March 17, 2001 | Vacationspot | Internet service provider | United States |
$70,850,000 | [9] |
| March 11, 2002 | Classic Custom Vacations[note 1] | Travel agency | United States |
$78,000,000 | [10] |
| July 11, 2002 | Metropolitan Travel | Travel agency | United States |
— | [11] |
| October 28, 2002 | Newtrade Technologies | Reservation software |  Canada |
— | [12] |
| April 5, 2004 | Activity World | Travel and touring | United States |
— | [13] |
| April 12, 2004 | Egencia | Travel agency |  France |
— | [14] |
Divestitures
| Date | Acquirer | Target company | Target business | Acquirer country | Value (USD) | References |
|---|---|---|---|---|---|---|
| December 31, 2000 | Technology Crossover Ventures | Expedia, Inc.[note 2] | Online travel | United States |
$50,000,000 | [15] |
| February 5, 2002 | USA Networks | Expedia, Inc.[note 3] | Online travel | United States |
$1,372,000,000 | [16] |
| August 8, 2003 | USA Interactive | Expedia, Inc.[note 4] | Online travel | United States |
$3,636,000,000 | [17] |
| August 9, 2005 | IAC/InterActiveCorp | Expedia, Inc.[note 5] | Online travel | United States |
$7,981,000,000 | [18] |
Locations
Expedia, Inc. maintains headquarters in downtown Bellevue, Washington, in a building named Expedia Tower. Expedia occupies floors 3 to 18 of the 20 floor building, which completed construction in 2008. Initially, it was widely speculated that Google wanted to occupy most of the building, but a crane accident in 2006 caused delay and Google backed out of the project. [19]
Accolades
In 2008, Expedia was named to the most admired Internet companies in the United States list, released by Fortune. Expedia ranked third, after IAC and Google, and was followed by Amazon.com at fourth place.[20]
Notes
- ^ Classic Custom Vacations was acquired from Global Vacation Group.
- ^ Technology Crossover Ventures acquired a 7% minority stake in Expedia, Inc.
- ^ USA Networks acquired a 65% majority stake of Expedia, Inc.
- ^ USA Interactive acquired remaining interests in Expedia, Inc.
- ^ IAC/InterActiveCorp spun off Expedia, Inc.
References
- ^ "Expedia, Inc. Reports Fourth Quarter and Full Year 2008 Results". Expedia, Inc. 19 February 2009. p. 16. http://media.corporate-ir.net/media_files/irol/19/190013/Expedia%20Q4%202008%20Release.pdf. Retrieved 11 October 2009.
- ^ "Expedia, Inc. Company Overview". Hoover's. 2009. http://www.hoovers.com/expedia/--ID__61378--/free-co-factsheet.xhtml. Retrieved 11 October 2009.
- ^ The 'Net Magazine, March 1997 issue, "Where Do You Really Want To Go Today?", page 21.
- ^ Expedia Press Room - Press Releases
- ^ USA Interactive to Change Name to InterActiveCorp iac.com
- ^ IAC Completes Spin-Off of Expedia, Inc., ExpediaInc.com, press release
- ^ "Expedia, Inc. Mergers and Acquisitions". Thomson Financial. http://www.alacrastore.com/mergers-acquisitions/Expedia_Inc-2100157. Retrieved 2008-10-31.
- ^ "Expedia Inc acquires Travelscape.com (2000/03/17)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Travelscape_com-972821020. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Vacationspot.com (2001/03/17)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Vacationspot_com-972814020. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Classic Custom Vacations from Global Vacation Group Inc (2002/03/11)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Classic_Custom_Vacations_from_Global_Vacation_Group_Inc-1264782020. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Metropolitan Travel Inc (2002/07/11)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Metropolitan_Travel_Inc-1310752020. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Newtrade Technologies Inc (2002/10/28)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Newtrade_Technologies_Inc-1335796040. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Activity World (2004/04/05)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Activity_World-1511156020. Retrieved 2008-10-28.
- ^ "Expedia Inc acquires Egencia.com (2004/04/12)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Egencia_com-1510471040. Retrieved 2008-10-28.
- ^ "Technology Crossover Ventures acquires a minority stake in Expedia Inc from Microsoft Corp (2000/12/31)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Technology_Crossover_Ventures_acquires_a_minority_stake_in_Expedia_Inc_from_Microsoft_Corp-1020594020. Retrieved 2008-10-28.
- ^ "USA Networks Inc acquires Expedia Inc from Microsoft Corp (2002/02/05)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/USA_Networks_Inc_acquires_Expedia_Inc_from_Microsoft_Corp-1201837020. Retrieved 2008-10-28.
- ^ "USA Interactive acquires remaining interest in Expedia Inc from USA Networks Inc (2003/08/08)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/USA_Interactive_acquires_remaining_interest_in_Expedia_Inc_from_USA_Networks_Inc-1299571020. Retrieved 2008-10-28.
- ^ "IAC/InterActiveCorp spins off Expedia Inc (2005/08/09)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/IAC_InterActiveCorp_spins_off_Expedia_Inc-1626566020. Retrieved 2008-10-28.
- ^ "Expedia moving to downtown Bellevue", article in Seattle P-I, June 27, 2007
- ^ America's Most Admired Companies 2008: Industry: Internet Services, Retailing | FORTUNE
External links
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