Expedia Spinning Off TripAdvisor Into Separate Public Company
Expedia, Inc. (NASDAQ:EXPE) has announced today that they plan to spin off TripAdvisor.com off into a separate public company. The board has already signed off on the spin-off, but the deal is still pending based on a shareholder vote.
Expedia will maintain domestic and international operations for their travel brands, including Hotels.com, eLong, Hotwire, carrentals.com, etc. Expedia spun out from Microsoft in 1999.
TripAdvisor receives over 50 million unique visitors per month, many of them that read hotel reviews. Expedia acquired TripAdvisor from InterActive Corp. for $210 million in 2004. The TripAdvisor Media Network posted $314 million in last year’s revenues.
[GeekWire]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry