A new report from the Financial Times reveals that Uber has explored a potential bid for Seattle-based travel giant Expedia Group.
- 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 reported $3.6 billion in revenue for the second quarter, up 6% year-over-year. Its market capitalization is around $20 billion. The company’s stock was up more than 8% in after-hours trading after the Financial Times published its report. Expedia declined to comment.
