CEO Shoots Down Rumor of Uber Acquiring Seattle-Based Expedia
The CEO of Seattle-based travel company Expedia is dispelling rumors the company might merge, or be taken over by Uber.
Expedia CEO says that's just not going to happen.
According to Geekwire, CEO Barry Diller said that is just not going to happen. Rumors of the possible merge began when Uber executives approached Expedia, and any possible exploration was at a very early stage:
According to Geekwire:
"Diller said an Uber-Expedia tie-up would make sense as “an industrial combination” but was adamant Monday that a deal isn’t getting done.
The rumored deal was notable in part because Uber CEO Dara Khosrowshahi was Expedia Group’s CEO from 2005 to 2017, and remains on the board."
Diller says the company is going through a growth period, Expedia reported second- quarter revenue of $3.6 billion dollars which is an increase of six percent of this same quarter in 2023.
The company's stock has risen over 40 percent in the last 12 months.
Expedia was founded as a division of Microsoft in 1996 in Redmond, WA, and spun off as a public company in 1999. Microsoft owns 86.4 percent of the company.
QUIZ: Can you identify 50 famous companies by their logos?