Travel site Tri­vago files for IPO in US

The Myanmar Times - - International Business -

GER­MAN ho­tel book­ing site Tri­vago, con­trolled by US on­line travel gi­ant Ex­pe­dia, has filed for a pub­lic share of­fer­ing in New York.

The firm founded in 2005, which aims to con­nect trav­ellers to ho­tels at the low­est rate, is used for book­ing at 1.3 mil­lion ho­tels in over 190 coun­tries, and has 55 lo­calised web­sites and apps in 33 lan­guages.

The com­pany said in a state­ment that the num­ber of shares to be of­fered and price range had not been de­ter­mined. But the fil­ing gave a pre­lim­i­nary es­ti­mate it would raise US$400 mil­lion in the ini­tial pub­lic of­fer­ing.

The IPO will be led by a Dutch­based en­tity called travel BV, which will be the hold­ing com­pany for the Ger­man start-up.

Ex­pe­dia bought a con­trol­ling share of Tri­vago in 2012 and will re­tain shares af­ter the IPO, ac­cord­ing to the fil­ing.

Ac­cord­ing to the fil­ing, Ex­pe­dia and the founders will con­sider a cor­po­rate re­or­gan­i­sa­tion within 12 months of the IPO.

The com­pany took in some 580 mil­lion euros ($640 mil­lion) in rev­enue in the lat­est fis­cal year but has been con­sis­tently los­ing money from the start.

Tri­vago com­petes with other “metasearch” plat­forms such as Price­line’s Kayak which help trav­ellers com­pare listings, of­fer­ing links to book­ing sites or ho­tels them­selves. –

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