I invested into Expedia in February 2018 after the stock had become cheap enough. The idea was that a stock in a secular growth sector (online travel) should do well in the long run. After pretty decent fulll year 2018 numbers, with double digit increases in both, top and bottom, line, the first quarter 2019 showed a clear slowdown. Topline growth slowed to ~4%. Excluding Trivago which is still shrinking, topline sales would have grown +6%. Underlying profitability has improved although the first quarter is always the weakest one.
What I found interesting is the fact that Expedia performed better than Booking com. Here is a stock price comparison (including Tripadvisor and Trivago):
Criteo is one of the few Non-US success stories in the Tech sector. Criteo was founded in France in 2005 and quickly became one of the leading “Adtech” companies in the world. Criteo successfully IPOed 2013 on the NAsdaq and quickly reached a market cap of more than 3 bn USD.
Criteo is an “Adtech” company. What it does is the following: It is primarily a tech version of the classical Advertising Agencies: Clients use Criteo to maximise the value of their online ad dollars spent which should turn into as many clicks and sales dollars as possible.
“Machine, Platform Crowd” tries to summarize what in the author’s view are the currently most important changes that will impact both, individuals and companies going forward:They call it the “Triple Revolution” consisting of:
- The emergence of machines (Robots, AI)
- The evolution from Products to Platforms
- The increasing importance of the Crowd vs. the “core”