Lyft plans to offer $450 million in convertible notes to institutional buyers, with an option for $50 million more. The proceeds will fund buybacks and potential deals.
Founded in 2014, Klook lets users book tours, activities, attractions, and local services worldwide and competes with platforms such as TripAdvisor and Airbnb.
Sonder Holdings Inc. (NASDAQ: SOND) announced a new financing plan to raise $24.54 million and strengthen liquidity for future growth. Shareholders and partnerships support the move. SOND shares surged 8.17% premarket.
The ride-hailing firm would utilize $500 million of this authorization within the next 12 months, with $200 million to be used in the next three months.
Travel industry faces turbulence as airlines, booking platforms, hotels, and cruise lines suffer due to weak demand. Three travel-focused ETFs are feeling the pressure, with stocks slipping.
Lyft forecast first-quarter gross bookings, which show the total transactions on the platform, between $4.05 billion and $4.20 billion. Analysts were expecting gross bookings of $4.26 billion.
In mid-December, TripAdvisor and its parent Liberty TripAdvisor struck a merger arrangement, allowing the former to acquire the latter for about $435 million.
BofA Securities analyst Justin Post upgraded Expedia to Buy and raised the price target to $221. While Expedia faced sentiment challenges due to soft B2C nights growth and revenues compared to peers, the analyst notes trends can improve in 2025 due to easier comps and better positioning at VRBO and Hotels.com.
Tripadvisor reported Q2 results with EPS of $0.39 beating estimates of $0.37, but revenues of $497 million missed expectations. Total Adjusted EBITDA rose 8% and Viator revenue grew 13%.
