Kayak rises following initial public offering

23rd Jul 2012
Kayak rises following initial public offering

Shares in online meta travel site Kayak have jumped following an initial public offering.

Norwalk, Connecticut-based company Kayak saw shares climb to over $30 each, after the launch, at $26 a share, on Friday.

The sale is the first consumer focused internet initial public offering since Facebook floated in May.

Kayak filed to go public in November 2010, but the move was pushed back following a fall in value in the social network following its float.

Kayak has revenue of $224.5 million in 2011.


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