Who owns Hotwire?
Hotwire is a travel website that offers airline tickets, hotel rooms, rental cars, and vacation packages. It operates by selling off unsold travel inventory at discounted prices. The company is headquartered in San Francisco, CA. Who owns Hotwire? Hotwire was launched in 2000, by Karl Peterson, Eric Grosse, Gregg Brockway, and Spencer Rascoff. Initial funding…
Hotwire is a travel website that offers airline tickets, hotel rooms, rental cars, and vacation packages. It operates by selling off unsold travel inventory at discounted prices. The company is headquartered in San Francisco, CA.
Who owns Hotwire?
Hotwire was launched in 2000, by Karl Peterson, Eric Grosse, Gregg Brockway, and Spencer Rascoff. Initial funding came from founding partner Texas Pacific Group (TPG), a leading private equity firm that Karl Peterson used to work for, that invested an initial $75 million into Hotwire.
In September 2003, IAC/InterActiveCorp announced its acquisition of Hotwire.com for $663 million. In 2004, an internet research firm estimated that through cross-advertising between Hotwire and Expedia, IAC was able to reach a total of an additional 1.5 million unique visitors to both websites monthly.
In January 2009, Eric Grosse became President of Expedia Worldwide and Clem Bason took over as President of the Hotwire Group. As of 2019, the company reported more than 9.5 million unique visitors and 91 million pageviews per month, with a main audience (60%) aged 25-54 years old and 52% of visitors being male. In 2019, Hotwire’s expected revenue was US$ 35 million. As a subsidiary brand of the Expedia Group, revenues for Hotwire have not been independently published.
