[ad_1]
Skift Take
Even if Uber-Expedia was the right deal â and that was dubious â it was the wrong time.
Barry Diller, Expedia Group’s chairman and senior executive, this week ruled out an Expedia sale to Uber â or to anyone else at this time.
Diller’s comments on CNBC were in response to a report in the Financial Times last month that Uber had explored a takeover bid.
“I don’t think it’s in Expedia’s interest,” said Diller about a sale of the company. “Expedia is now beginning a period, I think of real growth and now, for I think the first time in some time, has got a great leader who’s doing every right thing with the company.”
Expedia Group has been through a challenging stretch and has lowered forecasts at different points this year. New CEO Ariane Gorin, who took over in May, has reinvigorated Expedia.com, is positioning Vrbo to compete against Airbnb in urban areas, and is trying to expand the company’s international footprint.
Prior to Gorin, Expedia Group’s CEOs were Peter Kern (2020-2024), Mark Okerstrom (2017-2019), and current Uber CEO Dara Khosrowshahi (2005-2017).
Diller said an Expedia-Uber merger makes sense “as an industrial combination.” But he added: “It’s just not going to happen.”
“If there’s ever a wrong time for Expedia to actually exchange chairs, it is now,” Diller said.
He said another reason an Expedia-Uber deal won’t take place is “because I don’t want to do it.”
Diller controls 30% of Expedia Group’s voting power.
“I have enough voting shares that I probably can’t get anything done, but I can certainly stop something from being done,” Diller said.
Uber officials said recently that organic growth, not acquisitions, is a priority.
[ad_2]
Source link