Skift Take
Expedia inherited some minority investments in travel startups from HomeAway and Trivago, and made a few of its own in 2015. Look for Expedia to spread its money around in 2016, making additional minority investments, as well as a big acquisition or two.
Expedia Inc. made a slew of blockbuster acquisitions in 2015, ranging from shelling out $3.6 billion for HomeAway to $280 million for Travelocity, but there hasn’t been much visibility into some of its smaller investment activities until now.
In an exhibit that was part of its annual report, filed with the Security and Exchange Commission February 11, Expedia revealed that in 2015 it took a 30.54 percent stake in the hotel management Alice App (officially known as Fivepals), 14.9 percent in the airport ride-sharing app Wingz (Tickengo), and a 16.36 percent piece of the Latin American online travel agency Decolar.com, which also operates Despegar.com.
Previously we knew that Expedia led a $9.5 million Series A round for the AliceApp but Expedia’s 30.54 percent wasn’t revealed at the time. We knew that Expedia led an $11 million Series B for Wingz but Expedia’s 14.9 percent stake hadn’t been disclosed.
When Expedia deepened its 13-year-old relationship with Decolar in March 2015, the companies revealed that Expedia made a $270 million minority investment but now we learn that it amounted to a 16.36 percent piece of Decolar.
Expedia lists more than 250 subsidiaries in the exhibit it filed and there were 15 listed in which Expedia owns a minority, 50 percent or majority stake. [See chart below.]
In addition to the 2015 investments in Alice, Wingz and Decolar, some of the more recent investments include 2014 investments in Checkmate/Room 77 (6.1 percent) and Gogobot (15 percent). Expedia’s Gogobot investment is actually a byproduct of Expedia’s acquisition of HomeAway; the vacation rental site led a $20 million Series C round for Gogobot.
Expedia’s other investments range from a 49.9 percent stake in a joint venture dating to 2001 with the rail line SNCF in French online travel agency L’Agence Voyages-SNCF.com to a 15.8 percent piece of Sydney, Australia travel agency CT Partners Pty.
Several of the investments are actually owned by Trivago, of which Expedia wields a 63 percent stake.
In the wonky world of corporate names, Expedia does not list Travelocity, of which Expedia owns 100 percent, as a subsidiary; Travelocity is listed under its official name, Travelscape.
Expedia’s Investments in Subsidiaries through 2015
| Company | Ownership Stake |
|---|---|
| AAE Travel Pte. | 75% |
| Base7booking.com Sarl * | 52.3% |
| Bookabach | 75% |
| Canadastays.com | 14.7% |
| CT Partners Pty. | 15.8% |
| Decolar.com | 16.36% |
| Fivepals (Alice App) | 30.54% |
| Flat4day.com | 13% |
| Gogobot | 15% |
| IAC/Expedia Global | 50% |
| L’Agence Voyages-SNCF.com | 49.9% |
| MyHotelShop * | 61.3% |
| Room 77 (Checkmate) | 6.1% |
| Tickengo (Wingz) | 14.9% |
| Trivago | 63% |
| Tujia.com | 9.86% |
* Owned by Trivago
Source: Expedia
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Tags: alice, checkmate, expedia, gogobot, trivago
Photo credit: Expedia owns almost a third of the Alice App, also known as Fivepals. Alice