Uber is reportedly exploring an Expedia takeover

Uber is reportedly exploring the concept of buying Expedia, one of many largest journey reserving firms on this planet, based on the Financial Times. Expedia, which is valued at $20 billion and which reported its highest-ever annual income in 2023, would be the firm’s largest acquisition, if the deal does certainly push by means of. The Instances says it is very early days, nevertheless, and Uber hasn’t even made a proper provide for the journey firm but. It is nonetheless within the technique of finding out the implications of buying Expedia and has, over the previous months, labored with advisers to determine whether or not the deal is possible and the way it might be structured.

The corporate’s CEO, Dara Khosrowshahi, might have to take a seat out deal discussions, seeing as he was CEO of Expedia earlier than he was hired by the ride-hailing service in 2017. He is nonetheless in its Board of Administrators, as effectively. It would not sound like Khosrowshahi was the one who prompt the potential buy, although — in its report, the Instances mentioned the concept was “broached by a 3rd get together.”

Uber has had plans to turn out to be a wider journey reserving platform for some time now. Khosrowshahi mentioned he wished Uber to be the “Amazon of transportation” from the time he joined the corporate. Since then, the ride-hailing service has added prepare, bus and flight bookings in some markets, and it has additionally made a number of giant acquisitions. It bought on-line meals supply service Postmates for $2.65 billion and alcohol supply service Drizly for $1.1 billion earlier than shutting it down three years later. The corporate additionally teamed up with Waymo and Cruise to supply autonomous rides in sure markets. As the Instances notes, Uber turned worthwhile for the primary time in 2023 attributable to a renewed demand for rides and meals supply and might be a in a very good place to amass an organization as large as Expedia.