While they may be the kings of ridesharing, Uber’s next move is to take over the travel industry.
Uber is in talks to acquire travel company Expedia. Here’s why this could be a huge move for the ride-hailing company.
Uber’s Travel Ambitions
Uber has reportedly been in talks to acquire Expedia and its other travel sites.
While no deal has been confirmed when the news broke…
EXPEDIA SHARES ROSE 5%.
With this deal, Uber is looking to take a larger slice of the travel industry. Since the company almost went under in 2022…
The ridesharing app rebounded thanks to a huge demand for ride-hailing and food delivery through Uber Eats.
THIS YEAR ALONE, THE COMPANY’S STOCK REACHED NEW HIGHS, HITTING A $168 BILLION MARKET CAP.
Taking over Expedia would be a step forward for Uber’s travel strategy. This move would allow the company to diversify its portfolio and take advantage of a new stream of income…
Another positive is that the current CEO of Uber, Dara Khosrowshahi, was also the former CEO of Expedia between 2005 and 2017. So for Khosrowshahi, this is familiar territory.
Expedia would benefit Uber’s travel plans as the company is a one-stop destination for all things vacation. On the site, customers can book flights, hotels, cars, and activities. Expedia also owns Vrbo and Orbitz.
Currently, Expedia is valued at $20 billion but is facing a lot of competition from Airbnb and Booking.
Changing The Landscape
Uber knows the travel industry is changing and wants to get ahead of the curve while expanding its portfolio…
Uber and Lyft have been run out of cities due to their new minimum wage laws…
And Airbnb is fighting to stay in major cities without getting banned.
While the travel industry goes through major shifts…
We’ve yet to see if either company will go through with the deal.
Be Great,
GCTV Staff
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