KAYAK Software Corporation, which operates an online platform that allows consumers to compare flight, hotel and travel info, announced terms for its IPO on Monday. The Norwalk, CT-based company plans to raise $82 million by offering 3.5 million shares at a price range of $22.00 to $25.00. At the midpoint of the proposed range, KAYAK Software Corporation would command a market value of $1.0 billion.
KAYAK Software Corporation, which was founded in 2004 and booked $245 million in sales for the 12 months ended 3/31/2012, plans to list on the NASDAQ under the symbol KYAK. Morgan Stanley and Deutsche Bank Securities are the joint bookrunners on the deal.
