The Concord-headquartered travel company acquired by Priceline for $1.8 billion.
Online travel companies like Kayak and Priceline are all about finding the right price. While their focus is on helping customers find travel deals, when the two companies come together, the right price is apparently $1.8 billion. Concord-based Kayak, an 8-year-old company specializing in aggregating travel info for travel customers, has sold itself to Priceline.com for a purchase price that includes $500 million in cash and $1.3 billion in equity and stock options, according to a report by the Boston Herald. “The Priceline Group’s global reach and expertise will accelerate our growth and help us further develop as a company,” Kayak CEO Steve Hafner said in a statement, via the Herald. News of the sale comes just a few months after Kayak …
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The Concord-based online travel company enjoyed a 28 percent rise in its first day of trading last week.
Concord-based online travel company KAYAK Software Corp saw shares travel in the right direction on the local outfits first day of trading last Friday, July 20. In a July 19 company press release, KAYAK announced the pricing of its initial public offering of 3,500,000 shares of its Class A common stock at a price to the public of $26.00 per share, to be traded under the ticker symbol "KYAK." According to reports, in its first day, company shares rose about 28 percent to close at $33.18 after going public at $26 per share. “Becoming a public company marks an important and exciting milestone for KAYAK,” said co-founders Steve Hafner and Paul English in a statement, via the Boston Herald. “Our team intends to stay focused on creating the best…
