Expedia, Inc.


Expedia, Inc.
Expedia, Inc.
Type Public
Traded as NASDAQEXPE
NASDAQ-100 Component
S&P 500 Component
Industry Travel
Technology
Founded 1996
(as a division of Microsoft)
Headquarters Bellevue, Washington, U.S.
Key people Barry Diller (Chairman)
Dara Khosrowshahi (CEO)
Products Expedia.com
Classic Vacations
Hotels.com
Hotwire.com
Tripadvisor
Egencia
Revenue increase US$ 3.348 billion (2010)[1]
Operating income increase US$ 731.9 million (2010)[1]
Net income increase US$ 421.5 million (2010)[1]
Total assets increase US$ 6.651 billion (2010)[1]
Total equity decrease US$ 2.737 billion (2010)[1]
Employees 8,900 (December 2010)[1]
Website ExpediaInc.com

Expedia, Inc. (NASDAQEXPE) is an American company headquartered in Bellevue, Washington that operates several travel brands including Expedia.com, Hotels.com, Hotwire.com, Egencia (formerly Expedia Corporate Travel), TripAdvisor, Expedia Local Expert, Classic Vacations and eLong. Expedia, Inc.’s companies operate more than 90 branded points of sale in more than 60 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

 A dark modernist building with a glass curtain wall facade
Expedia's headquarters

Founded as a division of Microsoft in 1996, 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]

South Carolina sales tax suit

On 18 January 2011 Travelscape, a subsidiary of Expedia based in Las Vegas, was ordered to pay $6.3 million in back sales taxes to South Carolina by the state's supreme court. Travelscape argued that South Carolina's efforts to tax online retailers located out-of-state violate the Dormant Commerce Clause. In a unanimous ruling the court determined that the company has a presence in the state sufficient to be required to collect sales tax. While Travelscape does not have physical facilities in South Carolina, the court determined that frequent sales trips made by its employees and the fact that the company furnished hotel rooms in the state establish its presence for tax purposes.[5]

Officers and directors

Corporate management

  • Barry Diller: Chairman of the Board, Senior Executive
  • Victor A. Kaufman: Vice Chairman
  • Dara Khosrowshahi: President and CEO
  • Michael Adler: Chief Financial Officer, Executive Vice President
  • Burke F. Norton: Executive Vice President, General Counsel and Corporate Secretary
  • Edmond Mesrobian: Chief Technology Officer
  • Mark Okerstrom: Senior Vice President of Corporate Development
  • Patricia Zucotti: Senior Vice President and Chief Accounting Officer

Business management

  • Dhiren Fonseca: Co-President, Expedia Partner Services Group
  • Gary Fritz: Co-President, Expedia Partner Services Group
  • Scott Durchslag: President, Expedia Worldwide
  • David Roche: President, hotels.com Worldwide and Venere.com
  • Clem Bason: President, Hotwire Group
  • Stephen Kaufer: President and Chief Executive Officer, TripAdvisor.com
  • Henrik Kjellberg: President, Expedia Affiliate Network
  • Rob Greyber: President, Egencia
  • Greg Bernd: Co-President, Classic Vacations
  • David Hu: Co-President, Classic Vacations
  • Guangfu Cui: Chief Executive Officer, eLong, Inc.

Brands

Classic Vacations

eLong.com

Egencia Previously known as Expedia Corporate Travel.

Expedia.com

Expedia Local Expert

Hotels.com

Hotels.com is an operating company of Expedia, Inc. that provides reservation services for hotel rooms and other places to stay.

The company was founded in Dallas, TX in 1991 as Hotel Reservations Network (HRN) by Dave Litman and Bob Diener as a toll-free telephone service, offering consumers a one-stop source for discounted hotel rooms in major cities. In 2002 HRN introduced Hotels.com and the brand 1-800-2-Hotels.

Hotwire Group

TripAdvisor

SeatGuru.com

Venere.com

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.[6]

Acquisitions

Date Company Business Country Value (USD) References
02000-03-17 March 17, 2000 Travelscape Internet service provider  United States $&1000000008975000000000089,750,000 [7]
02001-03-17 March 17, 2001 Vacationspot Internet service provider  United States $&1000000007085000000000070,850,000 [8]
02002-03-11 March 11, 2002 Classic Custom Vacations[note 1] Travel agency  United States $&1000000007800000000000078,000,000 [9]
02002-07-11 July 11, 2002 Metropolitan Travel Travel agency  United States [10]
02002-10-28 October 28, 2002 Newtrade Technologies Reservation software  Canada [11]
02004-04-05 April 5, 2004 Activity World Travel and touring  United States [12]
02004-04-12 April 12, 2004 Egencia Travel agency  France [13]
02010-10-18 October 18, 2010 Mobiata Mobile App Developer  United States [14]

Divestitures

Date Acquirer Target company Target business Acquirer country Value (USD) References
02000-12-31 December 31, 2000 Technology Crossover Ventures Expedia, Inc.[note 2] Online travel  United States $&1000000005000000000000050,000,000 [15]
02002-02-05 February 5, 2002 USA Networks Expedia, Inc.[note 3] Online travel  United States $&100000013720000000000001,372,000,000 [16]
02003-08-08 August 8, 2003 USA Interactive Expedia, Inc.[note 4] Online travel  United States $&100000036360000000000003,636,000,000 [17]
02005-08-09 August 9, 2005 IAC/InterActiveCorp Expedia, Inc.[note 5] Online travel  United States $&100000079810000000000007,981,000,000 [18]

Locations

Expedia, Inc. maintains headquarters in downtown Bellevue, Washington, in a building named the Expedia Building. Expedia occupies floors 3 to 18 (and part of 20) 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] National Travel, an affiliate of American Express Travel, announced it has added Expedia Vacations to its suite of travel vendors.

Expedia, Inc. Ranks High on Fortune Most Admired List — For 2008, Expedia is ranked #3 in the Internet Service/Retailing industry, and is included in the list of most-admired companies in the state of Washington.[20]

Expedia, Inc. Named One of “America’s Best Managed Companies” by Forbes — Forbes’ list of the 400 best managed, public American companies with $1 billion or more in revenues includes Expedia for the first time.[21]

Notes

  1. ^ Classic Custom Vacations was acquired from Global Vacation Group.
  2. ^ Technology Crossover Ventures acquired a 7% minority stake in Expedia, Inc.
  3. ^ USA Networks acquired a 65% majority stake of Expedia, Inc.
  4. ^ USA Interactive acquired remaining interests in Expedia, Inc.
  5. ^ IAC/InterActiveCorp spun off Expedia, Inc.

References

  1. ^ a b c d e f "2010 Form 10-K, Expedia, Inc.". U.S. Securities and Exchange Commission. http://www.sec.gov/Archives/edgar/data/1324424/000119312511030900/d10k.htm. 
  2. ^ Expedia Press Room - Press Releases
  3. ^ USA Interactive to Change Name to InterActiveCorp iac.com
  4. ^ IAC Completes Spin-Off of Expedia, Inc., ExpediaInc.com, press release
  5. ^ Travelscape told to pay back sales-tax revenue, by Valerie Miller, Las Vegas Business Press, 31 January 2011
  6. ^ "Expedia, Inc. Mergers and Acquisitions". Thomson Financial. http://www.alacrastore.com/mergers-acquisitions/Expedia_Inc-2100157. Retrieved 2008-10-31. 
  7. ^ "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. 
  8. ^ "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. 
  9. ^ "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. 
  10. ^ "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. 
  11. ^ "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. 
  12. ^ "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. 
  13. ^ "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. 
  14. ^ "Expedia Inc acquires Mobiata LLC (2010/10/18)". Thomson Financial. http://www.alacrastore.com/storecontent/Thomson_M&A/Expedia_Inc_acquires_Mobiata_LLC-2240820020. Retrieved 2011-06-06. 
  15. ^ "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. 
  16. ^ "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. 
  17. ^ "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. 
  18. ^ "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. 
  19. ^ "Expedia moving to downtown Bellevue", article in Seattle P-I, June 27, 2007
  20. ^ a b "America's Most Admired Companies 2008: Industry: Internet Services, Retailing". CNN. http://money.cnn.com/magazines/fortune/mostadmired/2008/industries/26.html. 
  21. ^ "Expedia". Forbes. http://www.forbes.com/lists/2008/88/biz_08platinum_Expedia_6OID.html. 

External links

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Look at other dictionaries:

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  • Expedia — Création 1996 (en tant que filiale de Microsoft) Forme juridique Société …   Wikipédia en Français

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