Liberty Interactive Corp owns interests in subsidiaries and other companies engaged in the video and on-line commerce industries. Through its subsidiaries and affiliates, the company operates in North America, Europe and Asia. The Company's principal businesses and assets include its consolidated subsidiaries QVC, Inc. (QVC), TripAdvisor, Inc. (TripAdvisor), Provide Commerce, Inc. (Provide), Backcountry.com, Inc. (Backcountry), Bodybuilding.com, Inc. (Bodybuilding), and Celebrate Interactive Holdings, LLC (Celebrate) and its equity affiliates Expedia, Inc. (Expedia) and HSN, Inc. (HSN). QVC, Inc. (QVC), a wholly-owned subsidiary, markets and sells a wide variety of consumer products through live televised shopping programs distributed to approximately 296 million households each day and via its websites and other interactive media, including QVC.com. TripAdvisor is an online travel company, empowering users to plan and maximize their travel experience. TripAdvisor's branded websites include tripadvisor.com in the United States and localized versions of the website in 33 other countries, including in China under the brand daodao.com. Provide operates an e-commerce marketplace of websites that offers high-quality perishable products direct from suppliers to consumers and non-perishable and personalized gifts through its RedEnvelope and Personal Creations brands. Backcountry's primary site, Backcountry.com, offers over 900 brands and over 50,000 styles of high-end gear and clothing for backpacking, camping, trail running, skiing, rock climbing, kayaking and other outdoor sports. Celebrate is a wholly-owned subsidiary that owns and operates BuyCostumes.com and the Celebrate Express family of websites (combined Celebrate retail) and Evite.com. Celebrate, an internet celebrations leader, provides a party offering by giving individuals the resources necessary to plan, execute and attend a wide variety of celebrations and costuming events. CommerceHub provides a Software-as-a-Service platform for online retailers and their suppliers (manufacturers, and distributors). Expedia is an online travel company, empowering business and leisure travelers with the tools and information it needs to efficiently research, plan, book and experience travel. HSN is an interactive multi-channel retailer with direct-to-consumer expertise among its two operating segments, HSN and Cornerstone Brands. HSN offers differentiated retail experiences on TV, online, mobile, in catalogs, and in bricks-and-mortar stores. Tree.com is the owner of several brands and businesses that provide information, tools, advice, products and services for critical transactions in their customers' lives. businesses that engage in video and online commerce compete with traditional bricks-and-mortar and online retailers ranging from large department stores to specialty shops, electronic retailers, direct marketing retailers, such as mail order and catalog companies, and discount retailers. The Company's online commerce businesses are subject, both directly and indirectly, to various laws and governmental regulations. Certain of these businesses engaged in the provision of goods and services over the Internet must comply with federal and state laws and regulations applicable to online communications and commerce.