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Expedia, Inc. Completes Spin-off of TripAdvisor, Inc.
Dec 20, 2011 (06:12 PM EST)
EXPE and TRIP to Commence Regular-Way Trading
BELLEVUE, Wash., Dec. 20, 2011 /PRNewswire/ – Expedia, Inc. (NASDAQ: EXPE) today announced the successful completion of the spin-off of TripAdvisor, Inc. to Expedia, Inc. stockholders. Immediately prior to the spin-off, Expedia, Inc. effected a one-for-two reverse stock split. As a result, holders of Expedia common stock as of immediately prior to the effective time of the spin-off, which occurred after the close of trading today, December 20, 2011, became entitled to receive one share of TripAdvisor common stock and one share of Expedia common stock for every two shares of Expedia common stock held immediately prior to the completion of the spin-off. A favorable ruling from the IRS with respect to spin-off related matters was previously received.
Beginning tomorrow, December 21, 2011, TripAdvisor will trade regular way as a separate publicly traded company on the Nasdaq Global Market under the symbol "TRIP" and the remaining businesses of Expedia, Inc. will continue to trade under the "EXPE" symbol.
About Expedia, Inc.
Expedia, Inc. is the largest online travel company in the world, with an extensive brand portfolio that includes more than 90 localized Expedia.com®- and Hotels.com®-branded sites; leading U.S. discount travel site Hotwire®; leading agency hotel company Venere.com™; Egencia®, the world's fifth largest corporate travel management company; the world's largest travel community TripAdvisor® Media Group; destination activities provider ExpediaLocalExpert®; luxury travel specialist Classic Vacations®; and China's second largest booking site eLong™. The company delivers consumers value in leisure and business travel, drives incremental demand and direct bookings to travel suppliers, and provides advertisers vast opportunity to reach the most valuable audience of in-market travel consumers anywhere through TripAdvisor Media Group and Expedia Media Solutions. Expedia also powers bookings for some of the world's leading airlines and hotels, top consumer brands, high traffic websites, and thousands of active affiliates through Expedia® Affiliate Network.
About TripAdvisor, Inc.
TripAdvisor, Inc., the world's largest travel site, is an online travel research company, that empowers users to plan and have the perfect trip. TripAdvisor's travel research platform aggregates reviews and opinions of members about destinations, accommodations, restaurants and activities throughout the world through the flagship TripAdvisor brand. TripAdvisor-branded websites include tripadvisor.com in the United States and localized versions of the website in 29 other countries, including in China under the brand daodao.com, in 21 languages. TripAdvisor-branded websites globally received over 44 million unique visitors* in September 2011 and have built a marketable base of more than 20 million members and over 50 million reviews and opinions. Beyond travel-related content, TripAdvisor websites also include links to the websites of its advertisers, including travel advertisers, allowing travelers to directly book their travel arrangements. In addition to the flagship TripAdvisor brand, TripAdvisor manages and operates websites under 18 other travel media brands, connected by the common goal of providing comprehensive travel planning resources across the travel sector. In all TripAdvisor Media Group companies attract more than 65 million monthly visitors*.
TripAdvisor Media Group websites have been recognized as top travel resources in 2010 by Conde Naste Traveler, Good Housekeeping, TIME Magazine and Travel + Leisure. In 2011, TripAdvisor was voted the "Best Travel Information/Review Site" by the British Travel Awards and "Favourite Travel Website" by readers of the Telegraph in the UK. Headquartered in Newton, Massachusetts, TripAdvisor has been named on the "Boston Globe Top Places to Work list" in 2010 and 2011.
Trademarks and logos are the property of their respective owners. © 2011 Expedia, Inc. All rights reserved. CST: 2029030-50
* Source: comScore Media Metrix for TripAdvisor Media Group Sites, Worldwide, September 2011.
SOURCE Expedia, Inc.