TripAdvisor Spins Off From Expedia Takes Flight on the NASDAQ as a Public Company
In April, Expedia announced its intentions to spin off trip reviews site TripAdvisor as a public company. And this morning, TripAdvisor debuted on the NASDAQ under the symbol ‘TRIP’ trading at. This morning, TripAdvisor is trading at $29. Expedia is trading at $27.72, down 50 percent.
TripAdvisor, which was founded in 2000, was originally bought by IAC in for $212 million in 2004. IAC spun off Expedia, which included TripAdvisor, in 2005. With 50 million unique monthly visitors and 20 million members, TripAdvisor is the giant in the travel reviews space. The site publishes 25 new contributions every minute and also features over eight million candid traveler photos. The reviews site operates in 30 different countries, including in China under the site Daodao. IAC chairman Barry Diller will serve as the TripAdvisor’s chairman...
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