Khosrowshahi
Seattle-based online travel service Expedia.com is placing its ad account in review, based at least in part on its sagging financial performance, reports AdWeek. Expedia, which spent $170 million in domestic measured media last year according to TNS Media Intelligence, has used Interpublic Group's Deutsch/LA for creative and media chores. Deutsch said it would not defend. Expedia's first-quarter net income was down 51 percent.
Dara Khosrowshahi, Expedia CEO, said Expedia's financial performance was disappointing and that he would be "focused on tactical actions - including a shift of our marketing approach - to drive improvement in our results for the balance of the year."
"This is like your car breaking down and pointing the finger at your financial advisor," Mike Sheldon, managing partner and general manager of Deutsch/LA, is quoted as saying. "We had them for seven years and watched the company grow from zero to $10 billion. We know we had something to do with that growth and that's a source of pride for us. I'm really proud of the work we've done over that time."
