The spin off of TripAdvisor, the travel review and advice website, from former parent company Bellevue-based Expedia is complete, Expedia announced Tuesday in a press release.
According to the press release, immediately prior to the spin-off, Expedia, Inc. effected a one-for-two reverse stock split, which meant that holders of Expedia common stock immedately prior to the effective time of the spin-off became entitled to one share each of TripAdvisor and Expedia common stock for every two shares of Expedia common stock.
TripAdvisor now will trade as a separate publicly traded company on the Nasdaq Global Market under the symbol "TRIP." The remaining businesses of Expedia, Inc. will continue to trade under the "EXPE" symbol, the press release stated.
Accordng to the announcement made in April, TripAdvisor's TripAdvisor Media Group has 18 travel media and advertising brand websites, including more than 45 million travel reviews and opinions and more than 6 million traveler-supplied photos and a directory of more than 1 million businesses in more than 85,000 cities.
Expedia, which itself was spun off from a division of Microsoft in 1996, includes in its portfolio of companies a number of travel brands, including booking website where members can research and book airline tickets, hotel reservations, car rentals, cruises and many other in-destination services from a broad selection of partners. Expedia's transaction sites include Hotels.com, eLong, Hotwire, Egencia, Expedia Affiliate Network, , Venere, Classic Vacations and carrentals.com, the company said in a statement.