SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. 3)
EXPEDIA, INC.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
30212510
(CUSIP Number)
Carla S. Newell
c/o Technology Crossover Ventures
528 Ramona Street
Palo Alto, California 94301
(650) 614-8200
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
COPY TO:
Eleanor Cornish, Esq.
Gunderson Dettmer Strough Villeneuve Franklin & Hachigian LLP
610 Lincoln Street
Waltham, MA 02451
(781) 795-3554
November 18, 2002
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box [ ].
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV IV, L.P.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 3,195,796 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,195,796 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,195,796 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
13.65%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 654,008 shares of
common stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV IV STRATEGIC PARTNERS, L.P.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 119,164 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 119,164 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
119,164 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Less than 1%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 24,386 shares of
common stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TECHNOLOGY CROSSOVER MANAGEMENT IV, L.L.C.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 3,314,960 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,314,960 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,314,960 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
14.16%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
OO
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 678,394 shares of
common stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV III (GP)
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 3,346 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,346 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,346 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Less than 1%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 701 shares of common
stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV III, L.P.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 15,897 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 15,897 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
15,897 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Less than 1%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 3,333 shares of common
stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV III (Q), L.P.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 422,500 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 422,500 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
422,500 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.80%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 88,578 shares of
common stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TCV III STRATEGIC PARTNERS, L.P.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 19,133 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 19,133 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
19,133 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[X]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Less than 1%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
PN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 4,011 shares of common
stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C.
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of 460,876 SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by -0- SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 460,876 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
460,876 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
1.97%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
OO
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 96,623 shares of
common stock.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
JAY C. HOAG
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of -0- SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by 3,802,435 SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,802,435 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,802,435 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.24%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
IN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes options which can be immediately exercised into
20,000 shares of common stock and warrants which can be immediately
exercised into 777,897 shares of common stock. Also includes 3,719 shares
held of record by the Reporting Person's family trust of which Reporting
Person disclaims beneficial ownership except to the extent of his pecuniary
interest therein.
--------------------------------------------------------------------------------
(1) Name of Reporting Person
RICHARD H. KIMBALL
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds
AF, OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
DELAWARE
--------------------------------------------------------------------------------
(7) Sole Voting Power
Number of -0- SHARES OF COMMON STOCK (A)
Shares ------------------------------------------------------------
Beneficially (8) Shared Voting Power
Owned by 3,779,953 SHARES OF COMMON STOCK
Each ------------------------------------------------------------
Reporting (9) Sole Dispositive Power
Person With 3,779,953 SHARES OF COMMON STOCK (A)
------------------------------------------------------------
(10) Shared Dispositive Power
-0- SHARES OF COMMON STOCK
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,779,953 SHARES OF COMMON STOCK (A)
--------------------------------------------------------------------------------
(12) Check Box if Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
--------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
16.14%
--------------------------------------------------------------------------------
(14) Type of Reporting Person
IN
--------------------------------------------------------------------------------
(A) Please see Item 5. Includes warrants exercisable into 775,017 shares of
common stock. Also includes 4,117 shares held of record by the Reporting
Person's family trust of which Reporting Person disclaims beneficial ownership
except to the extent of his pecuniary interest therein.
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of common stock, par value $0.01 per share (the
"Common Stock"), of Expedia, Inc., a Washington corporation ("Expedia" or the
"Company"). The Company's principal executive offices are located at 13810 SE
Eastgate Way, Suite 400, Bellevue, Washington 98005.
ITEM 2. IDENTITY AND BACKGROUND.
(a)-(c), (f). This statement is being filed by (1) TCV IV, L.P., a Delaware
limited partnership ("TCV IV"), (2) TCV IV Strategic Partners, L.P., a Delaware
limited partnership ("Strategic Partners IV"), (3) Technology Crossover
Management IV, L.L.C., a Delaware limited liability company ("Management IV"),
(4) TCV III (GP), a Delaware general partnership ("TCV III (GP)"), (5) TCV III,
L.P., a Delaware limited partnership ("TCV III"), (6) TCV III (Q), L.P., a
Delaware limited partnership ("TCV III (Q)"), (7) TCV III Strategic Partners,
L.P., a Delaware limited partnership ("Strategic Partners III"), (8) Technology
Crossover Management III, L.L.C.,a Delaware limited liability company
("Management III"), (9) Jay C. Hoag ("Mr. Hoag") and (10) Richard H. Kimball
("Mr. Kimball"). TCV IV, Strategic Partners IV, Management IV, TCV III (GP), TCV
III, TCV III (Q), Strategic Partners III, Management III, Mr. Hoag and Mr.
Kimball are sometimes collectively referred to herein as the Reporting Persons.
The agreement among the Reporting Persons relating to the joint filing of this
statement is attached hereto as Exhibit 1 and is incorporated by reference
herein.
TCV IV, Strategic Partners IV, Management IV, TCV III (GP), TCV III, TCV III
(Q), Strategic Partners III and Management III are each principally engaged in
the business of investing in securities of the Company and other companies.
Management IV is the general partner of TCV IV and Strategic Partners IV.
Management III is the general partner of TCV III (GP), TCV III, TCV III (Q) and
Strategic Partners III. The address of the principal business and office of each
of TCV IV, Strategic Partners IV, Management IV, TCV III (GP), TCV III, TCV III
(Q), Strategic Partners III and Management III is 528 Ramona Street, Palo Alto,
California 94301.
Mr. Hoag and Mr. Kimball are the managing members of Management IV and
Management III. Mr. Hoag and Mr. Kimball are each United States citizens, and
the present principal occupation or employment of each is as a managing member
of Management IV, Management III and related entities. The business address of
each of Mr. Hoag and Mr. Kimball is 528 Ramona Street, Palo Alto, California
94301.
(d), (e). During the last five years, none of TCV IV, Strategic Partners IV,
Management IV, TCV III (GP), TCV III, TCV III (Q), Strategic Partners III,
Management III, Mr. Hoag or Mr. Kimball has (1) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (2) been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
TCV IV and Strategic Partners IV purchased the following shares of the Company's
Common Stock in the open market (the "Market Shares"):
Name of Investor Date Shares Acquired Price per Share
---------------------- ------ --------------- ----------------
TCV IV 8/28/02 96,405 $50.2047
Strategic Partners IV 8/28/02 3,595 $50.2047
The source of funds for the acquisition of the Market Shares by TCV IV and
Strategic Partners IV was from capital contributions from their respective
partners.
ITEM 4. PURPOSE OF TRANSACTION.
Depending on the factors discussed herein, the Reporting Persons may, from time
to time, exercise all or a portion of the warrants acquired pursuant to that
certain Amended and Restated Agreement and Plan of Recapitalization and Merger,
dated July 15, 2001, as reported on the Schedule 13D relating to the Common
Stock filed on March 21, 2002 (the "Warrants"), and may acquire additional
shares of Common Stock, and/or retain and/or sell all or a portion of the Common
Stock held directly as reported herein, and/or sell all or a portion of the
Common Stock issuable upon exercise of the Warrants in the open market or in
privately negotiated transactions. Any actions the Reporting Persons might
undertake will be dependent upon the Reporting Persons' review of numerous
factors, including, among other things, the price levels of the Common Stock;
general market and economic conditions; ongoing evaluation of the Company's
business, financial condition, operations and prospects; the relative
attractiveness of alternative business and investment opportunities; and other
future developments.
Except as set forth above, the Reporting Persons have no present plans or
intentions which would result in or relate to any of the transactions described
in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a), (b). As of the close of business on November 18, 2002, TCV IV, Strategic
Partners IV, Management IV, TCV III (GP), TCV III, TCV III (Q), Strategic
Partners III, Management III, Mr. Hoag and Mr. Kimball's beneficial ownership of
Common Stock is as follows:
Percentage of
Name of Investor Number of Total Shares Outstanding Shares
Outstanding Shares (Including Warrants (Including Warrants
and options) and options)(*)
------------------ ---------------------- -----------------------
TCV IV 3,195,796 13.65%**
Strategic Partners IV 119,164 Less than 1%**
Management IV 3,314,960 14.16%**
TCV III (GP) 3,346 Less than 1%**
TCV III 15,897 Less than 1%**
TCV III (Q) 422,500 1.80%**
Strategic Partners III 19,133 Less than 1%**
Management III 460,876 1.97%**
Mr. Hoag 3,802,435*** 16.24%**
Mr. Kimball 3,779,953**** 16.14%**
(*) All percentages in this table are based on the 23,414,000 shares of Common
Stock of the Company outstanding, as reported in the Company's Form 10-Q filed
with the Securities and Exchange Commission on November 14, 2001.
(**) Certain Reporting Persons disclaim beneficial ownership as set forth below.
(***) Includes 3,719 shares held by the Reporting Person's family trust of
which Reporting Person disclaims beneficial ownership except to the extent of
his pecuniary interest therein.
(****) Includes 4,117 shares held by the Reporting Person's family trust of
which Reporting Person disclaims beneficial ownership except to the extent of
his pecuniary interest therein.
Each of TCV IV and Strategic Partners IV has the sole power to dispose or direct
the disposition of the Common Stock held directly by it and as reported herein,
the Market Shares and the Warrants which it held directly by it and as reported
herein, as well as the shares acquirable upon exercise of the Warrants. Each of
TCV IV and Strategic Partners IV has the sole power to direct the vote of its
respective Common
Stock and the Market Shares, and will have the power to vote or direct the vote
of the shares upon exercise of the Warrants.
Management IV is the sole general partner of each of TCV IV and Strategic
Partners IV and in such capacity may be deemed to have the sole power to dispose
or direct the disposition of the Common Stock held directly by them and as
reported herein, the Market Shares and the Warrants held directly by them and as
reported herein, as well as the shares which TCV IV and Strategic Partners IV
would hold upon exercise of such Warrants, and to direct the vote of such Common
Stock and the Market Shares, as well as shares upon exercise of the Warrants.
Management IV disclaims beneficial ownership of the securities owned by TCV IV
and Strategic Partners IV except to the extent of its pecuniary interest
therein.
Messrs. Hoag and Kimball are the managing members of Management IV. Under the
operating agreement of Management IV, each of Messrs. Hoag and Kimball have the
independent power to cause the funds managed by Management IV to buy and sell
securities of publicly traded portfolio companies, however, in general, they
must act by unanimous consent with respect to all other matters, including
directing the voting of such securities. As a result, each of Messrs. Hoag and
Kimball may be deemed to have the sole power to dispose or direct the
disposition of the Common Stock held directly by TCV IV and Strategic Partners
IV and as reported herein, the Market Shares and Warrants held directly by TCV
IV and Strategic Partners IV as reported herein, as well as shares which TCV IV
and Strategic Partners IV would own upon exercise of such Warrants, and may be
deemed to have the shared power to vote or direct the vote of such Common Stock
and the Market Shares, as well as shares upon exercise of such Warrants. Messrs.
Hoag and Kimball disclaim beneficial ownership of the securities owned by TCV IV
and Strategic Partners IV except to the extent of their pecuniary interest
therein.
Each of TCV III (GP), TCV III, TCV III (Q) and Strategic Partners III has the
sole power to dispose or direct the disposition of the Common Stock held
directly by it and as reported herein, the Market Shares and the Warrants which
it holds directly and as reported herein, as well as the shares acquirable upon
exercise of the Warrants. Each of TCV III (GP), TCV III, TCV III (Q) and
Strategic Partners III has the sole power to direct the vote of its respective
Common Stock, the Market Shares and will have the power to vote or direct the
vote of the shares upon exercise of the Warrants.
Management III is the sole general partner of each of TCV III (GP), TCV III, TCV
III (Q) and Strategic Partners III and in such capacity may be deemed to have
the sole power to dispose or direct the disposition of the Common Stock held
directly by them and as reported herein, the Market Shares and the Warrants as
well as shares which TCV III (GP), TCV III, TCV III (Q) and Strategic Partners
III would hold upon exercise of such Warrants, and to direct the vote of such
Common Stock and the Market Shares, as well as the shares upon exercise of the
Warrants. Management III disclaims beneficial ownership of the securities owned
by TCV III (GP), TCV III, TCV III (Q) and Strategic Partners III except to the
extent of its pecuniary interest therein.
Messrs. Hoag and Kimball are the managing members of Management III. Under the
operating agreement of Management III, each of Messrs. Hoag and Kimball have the
independent power to cause the funds managed by Management III to buy and sell
securities of publicly traded portfolio companies, however, in general, they
must act by unanimous consent with respect to all other matters, including
directing the voting of such securities. As a result, each of Messrs. Hoag and
Kimball may be deemed to each have the sole power to dispose or direct the
disposition of the Common Stock held directly by TCV III (GP), TCV III, TCV III
(Q) and Strategic Partners III and as reported herein, the Market Shares and
Warrants held directly by TCV III (GP), TCV III, TCV III (Q) and Strategic
Partners III and as reported herein, as well as shares TCV III (GP), TCV III,
TCV III (Q) and Strategic Partners III would own upon exercise of such Warrants,
and may be deemed to have the shared power to vote or direct the vote of such
Common Stock, the Market Shares as well as shares upon exercise of such
Warrants. Messrs. Hoag and Kimball disclaim beneficial ownership of the
securities owned by TCV III (GP), TCV III, TCV III (Q) and Strategic Partners
III except to the extent of their pecuniary interest therein.
The Reporting Persons may be deemed to be acting as a group in relation to their
respective holdings in Expedia but do not affirm the existence of any such
group.
Except as set forth in this Item 5(a) - (b), each of the Reporting Persons
disclaims beneficial ownership of any Common Stock owned beneficially or of
record by any other Reporting Person.
(c). On November 18, 2002, TCV IV, Strategic Partners IV, TCV III (GP), TCV III,
TCV III (Q) and Strategic Partners III made in-kind pro-rata distributions to
their limited partners, without consideration as follows:
Name of Investor Shares Distributed
------------------ ------------------
TCV IV 960,914
Strategic Partners IV 35,833
TCV III (GP) 1,009
TCV III 4,794
TCV III (Q) 127,424
Strategic Partners III 5,770
(d). Not applicable.
(e). Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1 Joint Filing Agreement (incorporated by reference from Exhibit
1 to the Schedule 13D relating to the common stock of Expedia
filed on July 5, 2000).
Exhibit 2 Statement Appointing Designated Filer and Authorized
Signatories dated February 22, 2000 (incorporated by reference
from Exhibit 8 to the Schedule 13D relating to the common stock
of Expedia, Inc. filed on August 31, 2000).
Exhibit 3 Statement Appointing Designated Filer and Authorized
Signatories dated June 1, 2000 (incorporated by reference from
Exhibit F to the Schedule 13G relating to the common stock of
eLoyalty Corporation filed on June 5, 2000).
SIGNATURE
After reasonable inquiry and to the best of each of the undersigned's knowledge
and belief, each of the undersigned certifies that the information set forth in
this statement is true, complete and correct.
November 21, 2002 TCV III (GP),
a Delaware General Partnership
By: Technology Crossover Management III, L.L.C.,
a Delaware Limited Liability Company,
Its Managing General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 TCV III, L.P.,
a Delaware Limited Partnership
By: Technology Crossover Management III, L.L.C.,
a Delaware Limited Liability Company,
Its General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 TCV III (Q), L.P.,
a Delaware Limited Partnership
By: Technology Crossover Management III, L.L.C.,
a Delaware Limited Liability Company,
Its General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 TCV III Strategic Partners, L.P.,
a Delaware Limited Partnership
By: Technology Crossover Management III, L.L.C.,
a Delaware Limited Liability Company,
Its General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 Technology Crossover Management III, L.L.C.,
a Delaware Limited Liability Company,
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 TCV IV, L.P.,
a Delaware Limited Partnership
By: Technology Crossover Management IV, L.L.C.,
a Delaware Limited Liability Company,
Its General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 TCV IV Strategic Partners, L.P.,
a Delaware Limited Partnership
By: Technology Crossover Management IV, L.L.C.,
a Delaware Limited Liability Company,
Its General Partner
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 Technology Crossover Management IV, L.L.C.,
a Delaware Limited Liability Company,
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 Jay C. Hoag
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
November 21, 2002 Richard H. Kimball
By: /s/ Carla S. Newell
-----------------------------------------------
Carla S. Newell, Attorney-in-Fact
EXHIBIT INDEX
Exhibit 1 Joint Filing Agreement (incorporated by reference from Exhibit
1 to the Schedule 13D relating to the common stock of Expedia
filed on July 5, 2000).
Exhibit 2 Statement Appointing Designated Filer and Authorized
Signatories dated February 22, 2000 (incorporated by reference
from Exhibit 8 to the Schedule 13D relating to the common stock
of Expedia, Inc. filed on August 31, 2000).
Exhibit 3 Statement Appointing Designated Filer and Authorized
Signatories dated June 1, 2000 (incorporated by reference from
Exhibit F to the Schedule 13G relating to the common stock of
eLoyalty Corporation filed on June 5, 2000).