Mal, They sure do - on the face of it, it appears that the...

Mal,

They sure do - on the face of it, it appears that the executive team and board/founders have been actively shopping WTF in market and Expedia was the highest bidder as the scheme has been prearranged and packaged up quite nicely. I don't think it's going to get much better, but never say never.

I guess you can blame the board for not being more aggressive with WTF's script in acquiring more companies along with the hoards of cash ($150m) of their balance sheet.

As I said above, these guys aren't young gun silicon valley founder CEO's that want to go BIG BIG BIG. They were comfortable milking every last cent out of a business model that had gone stale over 10+ years because thats what dumb Australian investors and analysts told them to do.

Growth is more important than profit in technology as its winner takes all. Whom ever have scale wins.

Thats why Google is Google in search and makes a 95% profit margin on Google Ad Words. Rivers of gold indeed!