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This question is about Orbitz.
Who owns Orbitz?
Expedia Group owns Orbitz and is considered the company's parent organization. Orbitz was started in 2001 and was originally established through a partnership with major airlines. The company was formed as a response to the rise of online travel agencies, such as Expedia and Travelocity.
In 2003, the company went public at a price of $26 per share. After the IPO, the partnership of airlines still held 70% of the outstanding stock with over 90% of the voting power. Then in 2006, The Blackstone Group acquired Orbitz in its acquisition of Travelport, a company that included the Orbitz online reservation service.
Orbitz had annual revenue of $932 million with 1,530 employees in 2014.
In 2015, Expedia acquired Orbitz for $1.2 billion in cash in an attempt to better compete with Priceline.com.
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