NEW YORK (TheStreet) -- Following a dance with the IPO market, Kayak Software has decided to take the lead and is moving forward with its initial public offering.
The online travel booking service filed its S-1, announcing it will sell 3.5 million shares between $22 and $25 a share, hoping to raise as much as $100 million in the process.
Recent competition from Google (GOOG), which closed its ITA Software acquisition last year, has heightened scrutiny surrounding the firm. The company cited the acquisition as a risk factor in its filing."In the event we are not offered access to Google's enhancements of or replacements to ITA software at competitive prices or at all, our ability to compete and operate our business effectively, and our financial performance, may be materially adversely affected," the filing noted. In the three months ended March 31, Kayak generated $73.3 million in revenue, earning 17 cents a share. That was up from the same quarter in 2011, when it reported $52.7 million in revenue, but lost $1.33 a share. Kayak plans to list on the Nasdaq under the ticker symbol "KYAK." Morgan Stanley is the lead book runner on the IPO. Morgan Stanley was also the lead underwriter on Facebook's IPO. Interested in more on Facebook? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV