Friday, April 8, 2011
Expedia To Spin Off TripAdvisor As A Public Company In Q3 2011
Travel search and booking giant Expedia, which is traded on the Nasdaq under 'EXPE,' is spinning off trip reviews site TripAdvisor as a public company. In a release, Expedia said that its Board of Directors has preliminarily approved the plan to separate Expedia into two publicly traded companies. Expedia/IAC must feel that spinning off TripAdvisor as a public company could be a financially lucrative move. TripAdvisor, which was founded in 2000, was originally bought by IAC in for $212 million in 2004. IAC spun off Expedia, which included TripAdvisor, in 2005. The newly formed TripAdvisor would include all of the domestic and international operations, including its flasghipsite and 18 other travel media and advertising brands.