Yahoo Finance·2025-12-17 18:59Core Insights - Tiqets, an Amsterdam-based platform for museum and attraction tickets, has been acquired by Expedia after an extended sales process [1] - The acquisition price is not significant enough to impact Expedia's financials, and the deal is expected to close in the first quarter of 2026 [4] Group 1: Sales Process and Stakeholders - Tiqets underwent a formal sales process with Barclays advising on the sale, exploring multiple buyer options [1] - Airbnb, which previously led a $60 million funding round for Tiqets in 2019, did not proceed with a purchase, despite initial expectations from Tiqets' founders and shareholders [2] - Booking.com, another potential buyer, was also considered, raising questions about why these natural competitors did not acquire Tiqets [2] Group 2: Financial Context - Tiqets took out a €25 million ($29 million) loan in June to refinance debt, indicating financial urgency and the need for a timely sale [3] - The company has raised approximately $105 million in venture funding since its founding in 2014, highlighting its financial challenges [3] Group 3: Deal Valuation and Employee Impact - Tiqets informed at least one employee that the acquisition could be valued at around $100 million, considering stock options, but preferred shareholders would be paid first [5] - The actual deal value could exceed $100 million when accounting for the distribution among common shareholders [5] Group 4: Strategic Implications for Expedia - The acquisition provides Expedia with direct access to major European attractions, enhancing its B2B offerings and reducing reliance on third-party revenue sharing [8] - Tiqets competes with larger platforms like Viator and GetYourGuide, but its limited proprietary technology presents challenges in creating substantial value [7]