Official press releases from Uber or Expedia, or credible financial news sources

Uber Explores $20 Billion Expedia Acquisition in Potential Biggest Travel Deal of Decade

Oct 16, 2024, 10:29 PM

Uber Technologies Inc. has explored a possible bid for Seattle-based Expedia Group Inc. as part of its push to develop a "super app" and diversify its services, according to reports citing three informed sources. The ride-hailing giant has approached advisers over the past few months to examine the feasibility of acquiring the nearly $20 billion travel booking website and how such a deal could be structured. The idea reportedly originated from a third party, with Uber consulting advisers on the potential merger. If pursued, the acquisition would be Uber's largest deal to date and could become the biggest travel industry deal in a decade, signaling its ambition to expand into the travel sector and compete with companies like Airbnb. Uber's CEO, Dara Khosrowshahi, previously served as CEO of Expedia, adding a personal connection to the potential transaction. While no official approach has been made to Expedia, news of the possible bid has caused Expedia's stock to rise and Uber's to decline.