Kayak Software is set to debut in its initial public offering late this week. The travel comparison site’s parent is set to debut with a small offering of only about 4 million shares with an indicated range of up to $25.00 per share. If the offering goes off as the terms appear, it will raise a mere $100 million in IPO proceeds. That is not exactly a large initial public offering by any standards. We are tracking this offering with particular interest because Kayak was one of Top 17 IPOs to Watch in 2012. The debut will be ticker “KYAK” on NASDAQ.
Kayak.com was started in 2004 by the co-founders of Expedia, Travelocity and Orbitz. We anticipate that, despite a weak IPO flow in recent weeks, Kayak is going to be watched closely. The acquisition of IATA by Google Inc. (NASDAQ: GOOG) may be a challenge for Kayak, but the past strength of Priceline.com Inc. (NASDAQ: PCLN) and other online travel sites is likely to keep investors’ interest high.
The last look showed that the deal was set to price Thursday night for Friday trading.
JON C. OGG