Barry Diller, the chairman and senior executive of Expedia Group, has ruled out a sale of the company to Uber or anyone else at this time. This decision comes in response to a report in the Financial Times suggesting that Uber had explored a takeover bid. Diller stated that a sale of Expedia would not be in the company’s best interest, as they are currently entering a period of growth and have a strong leader in CEO Ariane Gorin, who is making positive changes within the company.
Expedia Group has faced challenges in recent times and has adjusted its forecasts throughout the year. With the new leadership of Ariane Gorin, the company is focused on revitalizing Expedia.com, positioning Vrbo to compete with Airbnb in urban areas, and expanding its international presence. This comes after previous CEOs, including Peter Kern, Mark Okerstrom, and current Uber CEO Dara Khosrowshahi, worked to navigate the company through various challenges.
Although Diller acknowledges that an Expedia-Uber merger could make sense as an industrial combination, he believes that now is not the time for such a deal to take place. With Diller controlling a significant portion of Expedia Group’s voting power, he has the ability to prevent such a deal from happening. Additionally, Diller emphasized that he simply does not want to proceed with a sale to Uber or any other entity at this time. Uber officials have also stated that they are focused on organic growth rather than pursuing acquisitions, further indicating that a potential deal between Uber and Expedia is unlikely to materialize.
Overall, Diller’s comments suggest that even though an Uber-Expedia deal may have some industrial logic, the timing is not right for such a transaction to occur. With Expedia Group showing signs of growth under new leadership, Diller is confident that the company is on the right track and does not see a sale to Uber as a beneficial move at this time. Ultimately, it appears that Expedia Group is focused on its own growth and expansion strategies, rather than entertaining the idea of a merger with Uber or any other potential buyer.
