Pretty sweet deal for Expedia.
$100+ million of cash on the balance sheet, plus a business valued valued by Australia's non-tech savvy sharemarket market at a little over $400m doing $140m per year in FY revenue.
Serious bargain considering that on the NYSE and NASDAQ, consumer internet companies such as Yelp and Tripadvisor etc are valued at between 7-9x of FY REVENUE.
For example -
Priceline -- $6bn in FY revenue valued at $65 bn.
Tripadvisor -- $950m in FY revenue valued at $15 bn.
https://www.google.com/finance?q=NASDAQCLN&ei=nza6U4DwLoesiAKqp4HgDw
Looks like the board and major shareholders (Mr Wood) have given up the fight and are keen to get out.
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Pretty sweet deal for Expedia. $100+ million of cash on the...
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