Kayak expected to be valued at more than $100m

Metasearch engine website Kayak is expected to be valued at more than $100 million when its initial public offering finally goes ahead.


Kayak expects to sell 4 million shares at $25 each, according to a listing with the US Securities Exchange.


The company was supposed to launch its IPO earlier this summer but postponed plans due to Facebook’s lacklustre performance, a source close to the situation told Reuters.


Kayak faces mounting competition in the online travel sector from companies like Expedia Inc and Travelocity.


“They don’t have too many value-added services and most people would rather go directly to the airlines’ websites for the same deal which is cheaper,” Scott Sweet, managing partner at IPO Boutique, an IPO research firm told the news agency.


Kayak is backed by private equity players like General Catalyst Partners, Sequoia Capital, Accel Funds and Oak Investment Partners.


The company expects to lists its shares on the Nasdaq under the symbol ‘KYAK’.


The offering is being underwritten by Morgan Stanley and Deutsche Bank Securities among others.

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