Despegar.com, a leading Latin American online travel agency, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering, although we estimate it could raise as much as $300 million.
The company recently changed its name from Decolar.com, the Brazil brand, to Despegar.com, its global brand. Top markets include Uruguay, Brazil and Argentina.
The Buenos Aires, Argentina-based company was founded in 1999 and booked $465 million in sales for the 12 months ended June 30, 2017 . It plans to list on the NYSE under the symbol DESP. Despegar.com filed confidentially on May 5, 2017. Morgan Stanley and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
