Is rideshare company Uber thinking about getting into the travel business?

  Reports say they're looking at buying Expedia

 Geekwire is reporting Uber, the massively successful rideshare company, has been looking at acquiring Seattle-based travel giant Expedia.

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The Financial Times and Geekwire are reporting:

  • "Uber has approached advisers in recent months about a deal and its interest is at a very early stage, according to the report.
  • The news reflects Uber’s vision to go beyond ride-hailing for growth opportunities. Its stock is up more than 80% in the past year and its market capitalization is more than $170 billion.
  • Uber CEO Dara Khosrowshahi was Expedia’s CEO from 2005 to 2017 and remains on the company’s board."

Expedia, the online travel assistance and booking site, has been performing strongly of late, and last quarter reported earnings of $3.6 billion, that's a six percent increase over the first quarter of 2023. The company's stock also rose 8 percent after the Financial Times published the report.

However, Expedia officials have declined to comment. Some sources say there have not been formal negotiations, and various financial groups are weighing in on the issue.

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