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Online travel company Kayak files for $50 million IPO

November 17, 2010
KAY

Kayak Software Corporation, which operates an online platform that allows users to compare flight, hotel and travel information, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering. The Norwalk, CT-based company, which was founded in 2004 and booked $154 million in sales for the 12 months ended September 30, is backed by venture firms including General Catalyst Partners (30%), Sequoia Capital (18%), Accel Partners (13%) and Oak Investment Partners (9%). Morgan Stanley and Deutsche Bank Securities are the lead underwriters on the deal, for which pricing terms and timing were not disclosed.