Uber discussed a bid for travel booking company Expedia, CNBC confirmed, in a deal that would push the ride-hailing company into new markets beyond car travel and food delivery.
The talks were in early stages, according to a person familiar with the discussions who asked not to be named since the talks are confidential. It is unclear if an acquisition will take place.
Expedia is familiar territory for Uber CEO Dara Khosrowshahi, who served as CEO of the travel group from 2005 to 2017. Khosrowshahi is still a nonexecutive member of Expedia’s board.
Uber has a market cap of around $168 billion after an 80% rally in the past year that pushed the stock price to a record earlier this month. The company has rebounded from a dismal 2022, when high gas prices and inflation curbed spending and more drivers came back to the platform following the pandemic. Uber’s resurgence has been driven by a boom in ride-hailing demand along with its Uber Eats food delivery service.
Expedia is worth around…
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