Tweet
November 17, 2010, 9:51 AM EST
By Katie Hoffmann
(Adds underwriters in second paragraph.)
Nov. 17 (Bloomberg) -- Kayak Software Corp., the U.S. online travel-information service provider, filed for an initial public offering worth as much as $50 million.
A group of banks led by Morgan Stanley and Deutsche Bank AG will underwrite the IPO, Norwalk, Connecticut-based Kayak said in a filing today. The company, which didn’t disclose a price per share, will use the proceeds for general corporate purposes.
Kayak, started in 2004, lets shoppers looking for flights, hotels and vacation packages search multiple travel sites, such as those of Expedia and Orbitz, at the same time. Kayak’s sales climbed 48 percent to $128.3 million in the nine months through Sept. 30. The online travel market generated $216 billion in sales last year, the company said.
In the U.S., 30 technology companies have had initial public offerings this year, up from 11 this time last year, as corporations and consumers resume spending after the recession.
--Editors: Ville Heiskanen, Lisa Wolfson
2329987Z US CN EXPE US CN OWW US CN
To contact the reporter on this story: Katie Hoffmann in New York at khoffmann4@bloomberg.net
To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net
Powered by WizardRSS | Full Text RSS Feeds
(Adds underwriters in second paragraph.)
Nov. 17 (Bloomberg) -- Kayak Software Corp., the U.S. online travel-information service provider, filed for an initial public offering worth as much as $50 million.
A group of banks led by Morgan Stanley and Deutsche Bank AG will underwrite the IPO, Norwalk, Connecticut-based Kayak said in a filing today. The company, which didn’t disclose a price per share, will use the proceeds for general corporate purposes.
Kayak, started in 2004, lets shoppers looking for flights, hotels and vacation packages search multiple travel sites, such as those of Expedia and Orbitz, at the same time. Kayak’s sales climbed 48 percent to $128.3 million in the nine months through Sept. 30. The online travel market generated $216 billion in sales last year, the company said.
In the U.S., 30 technology companies have had initial public offerings this year, up from 11 this time last year, as corporations and consumers resume spending after the recession.
--Editors: Ville Heiskanen, Lisa Wolfson
2329987Z US CN EXPE US CN OWW US CN
To contact the reporter on this story: Katie Hoffmann in New York at khoffmann4@bloomberg.net
To contact the editor responsible for this story: Peter Elstrom at pelstrom@bloomberg.net
Powered by WizardRSS | Full Text RSS Feeds