Tripadvisor To Sell TheFork for $700 Million to Fuel Its Bet on Experiences

Tripadvisor is parting ways with its European dining reservation platform, TheFork, nearly a year into an activist campaign launched by Starboard Value.  

Tripadvisor agreed to a $700 million all-cash transaction with American Express, according to a Monday news release. Potential uses of the proceeds include share repurchases, debt paydown, or investments in the experiences category.

Tripadvisor — which owns Viator, an online travel agency for tours and activities — says it can now focus “even more fully” on the experiences segment. Tripadvisor CEO Matt Goldberg previously called Viator the “strategic and financial cente