Acquisitions

Kayak, That Travel Site You Love, to Be Purchased for $1.8 B. by Captain Kirk’s Priceline

This guy used to be a fucking STARFLEET Captain! [Photo: WJYY)

Kayak, your favorite travel site, which easily serves up the cheapest flight and hotel prices across the web, has been acquired by fellow travel site Priceline, also known as “that thing William Shatner did after Star Trek.” According to a press release published by Skift, the two have entered into a definitive agreement for Priceline to acquire Kayak for $1.8 billion. Read More

Facebook Faceplant

Kayak Reportedly Postpones IPO in the Wake of Facebook’s Faceplant

The Zuckerberg-Chans. Chan-Zuckerbergs?

Head for your bunkers: Facebook fallout is upon us. (Maybe.) Bloomberg reports that–according to one source, anyway–Kayak plans to delay its IPO, in the wake of Facebook’s less-than-stellar debut. Says Bloomberg:

The Norwalk, Connecticut-based online travel service has postponed the roadshow for the offering, which was scheduled to start last week, said the person, who declined to be identified because the information is private. Morgan Stanley, the lead bank on Facebook’s initial share sale, also was hired to lead Kayak’s IPO.

Facebook’s stock is currently at $28.19, well under its $38 debut. Given that it was the highest-profile technology IPO in years (seriously, “frenzy” doesn’t even do it justice), there was no way that wasn’t going to have some sort of impact. One researcher told Bloomberg: “After Facebook’s tumble, investors are not willing to buy pie in the sky.” Ouch.  Read More