Expedia, Inc.
From Wikipedia, the free encyclopedia
 |
This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (April 2008) |
| 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 | $2.665 billion (2007) |
| Employees | 7200 (2007) |
| Website | expediainc.com |
Expedia, Inc. (NASDAQ: EXPE) is an American company headquartered in Bellevue, Washington that operates the Expedia travel website, along with other travel-related properties including Hotels.com. The company serves customers in Australia, Canada, France, Germany, Italy, Japan, the Netherlands, Norway, Spain, Sweden, the United Kingdom, the United States, and now India and New Zealand. It is part of both the S&P 500 and NASDAQ-100 stock market indices.
Contents |
[edit] History
Founded as a division of Microsoft in October 1996,[1] Expedia was spun off in 1999, and was later purchased by TicketMaster in 2001[2] (TicketMaster changed its name to USA Networks in 2001 and then InterActiveCorp in 2003[3]). 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.[4]
[edit] Key people & Alumni
[edit] Officers & directors
- Elijah King: Chairman of the Board, Senior Executive
- Dara Khosrowshahi: CEO, Director
- Victor A. Kaufman: Vice Chairman of the Board
- Michael Adler: Chief Financial Officer, Executive Vice President
- Burke F. Norton: Executive Vice President, General Counsel, Secretary
- Connie Symes: Executive Vice President - Human Resources
- Niño Dimalanta : Senior Vice President, Chief Accounting Officer, Controller
- Pierre V. Samec Ph.D.: Chief Technology Officer
- A. George Battle: Director
- Jonathan L. Dolgen: Director
[edit] Products
[edit] Egencia
Previously known as Expedia Corporate Travel.
[edit] Expedia
[edit] Hotels.com
[edit] Hotwire
[edit] TripAdvisor
[edit] Competitors
[edit] Mergers and acquisitions
Expedia's first and largest acquisition was Travelscape for US$89.75 million on March 17, 2000. It subsequently acquired Vacationspot in March 2001 for $70 million and 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.[5]
[edit] Acquisitions
| Date | Company | Business | Country | Value (USD) | References |
|---|---|---|---|---|---|
| March 17, 2000 | Travelscape | Internet service provider |  United States |
$89,750,000 | [6] |
| March 17, 2001 | Vacationspot | Internet service provider | United States |
$70,850,000 | [7] |
| March 11, 2002 | Classic Custom Vacations[note 1] | Travel agency | United States |
$78,000,000 | [8] |
| July 11, 2002 | Metropolitan Travel | Travel agency | United States |
— | [9] |
| October 28, 2002 | Newtrade Technologies | Reservation software |  Canada |
— | [10] |
| April 5, 2004 | Activity World | Travel and touring | United States |
— | [11] |
| April 12, 2004 | Egencia | Travel agency |  France |
— | [12] |
[edit] 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 | [13] |
| February 5, 2002 | USA Networks | Expedia, Inc.[note 3] | Online travel | United States |
$1,372,000,000 | [14] |
| August 8, 2003 | USA Interactive | Expedia, Inc.[note 4] | Online travel | United States |
$3,636,000,000 | [15] |
| August 9, 2005 | IAC/InterActiveCorp | Expedia, Inc.[note 5] | Online travel | United States |
$7,981,000,000 | [16] |
[edit] Locations
Expedia, Inc. maintains headquarters in Bellevue, Washington (Sunset North Campus — I-90 corridor). The lease expires in December 2008, when the headquarters will move to downtown Bellevue, WA. At the new location, Expedia has leased 15 floors (3 to 18) of a 20 floor building called Tower 333, currently under construction by Hines. 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. [17]
[edit] Accolades
Recently Expedia featured in the most admired Internet companies in the United States list, released by Fortune. Expedia ranked 3rd, after IAC and Google, and was followed by Amazon.com at 4th place. [18]
[edit] 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.
[edit] References
- ^ 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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 on 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
[edit] External links
|
||||||||
