Kayak Pushes Back IPO Timing After Facebook
Kayak Software Corp. has pushed back the timing for its initial public offering in the wake of Facebook Inc.’s tumultuous public debut, people familiar with the matter said.
The online travel deals site was to be one of the next Internet IPO deals led by Morgan Stanley, the bank that led Facebook’s deal. The roadshow for the Kayak deal, in which large investors get pitched on the shares, was to begin after Memorial Day, the people said. Now, that timing is uncertain, they said, as Kayak takes stock of investor confidence. Facebook shares have lost about 25 percent of their value since they started trading May 18.