Expedia's decade Spring 1995: Founded as a tiny division within Microsoft to create a travel CD-ROM. Rich Barton, the division's first product...
Spring 1995: Founded as a tiny division within Microsoft to create a travel CD-ROM. Rich Barton, the division’s first product manager, persuades the company to start an online-travel business.
Oct. 22, 1996: Microsoft introduces Expedia.com, an online-travel site.
Nov. 10, 1999: Spins off Expedia; the company debuts on the Nasdaq Stock Market, soaring from $15 to $65.88 on its first day.
Jan. 31, 2000: Company announces plans to purchase two key companies: Travelscape.com, which negotiates directly with hotels to receive special rates, and VacationSpot.com, which features 25,000 vacation properties.
July 16, 2001: Sheds ties to Microsoft, announcing USA Networks plans to buy the software giant’s majority stake in the company for $1.5 billion. USA Networks head and media mogul Barry Diller becomes chairman of Expedia.
Jan. 1, 2002: Surprises Wall Street with its first quarterly profit. Company also surpasses rival Travelocity.com for the first time in gross travel bookings.
April 23, 2002: Surprises Wall Street again by more than doubling its sales to $116 million, and sextupling its profit to $28.4 million compared with the year before.
June 3, 2002: Parent company, now named USA Interactive (USAI), makes an unsolicited bid to buy the 37 percent it does not own.
July 11, 2002: Expedia’s independent board, formed to ponder offer, rejects USAI’s bid, saying the company has “excellent” prospects as a stand-alone entity.
Oct. 10, 2002: USAI withdraws its offer after Wall Street pushes down the share price of USAI and Expedia.
Feb. 5, 2003: CEO Barton says he is stepping down in March to spend a year in Europe with his wife and three children. Erik Blachford, president of Expedia North America, is named CEO.
March 19, 2003: Announces parent company USAI would buy its remaining outstanding shares, ceasing its trading on Nasdaq.
Dec. 21, 2004: For reasons of “simplicity and clarity,” IAC/InterActiveCorp (formerly USAI) announced plans to split its collection of Internet businesses in two and run a publicly traded travel unit in Bellevue under the Expedia brand name.
Jan. 1, 2005: Dara Khosrowshahi is named president and CEO of Expedia.