Kayak, the well-known travel search engine, became a public company on July 20, 2012, through an Initial Public Offering (IPO). This move allowed the company to list its shares on a public stock exchange, making them available for purchase by individual and institutional investors.
Kayak's Initial Public Offering Details
The IPO on July 20, 2012, was a significant event for Kayak, transitioning it from a private entity to a publicly traded one. The first day of trading provided key insights into market reception for the travel technology company.
Here are the specific details from its first day of trading:
Event | Detail |
---|---|
IPO Date | July 20, 2012 |
Opening Price Per Share | $26 |
Closing Price Per Share | $33.18 |
On its debut, Kayak's shares opened at $26 per share, indicating the initial valuation and investor interest. By the close of trading on the same day, the share price had increased to $33.18, reflecting a positive market response to the new public offering. This successful market entry underscored the growing demand for online travel services and the potential investors saw in Kayak's platform.