Kayak to IPO under the name KYAK, valued at $1 billion

Kayak is expected to start trading tomorrow, after waiting nearly a year for the turbulent IPO waters to subside.

Later this afternoon, Kayak is planning to sell 3.5 million shares at $22 to $25 each, to raise as much as $100 million, according to its latest document filed with the Securities and Exchange Commission.

But based on strong demand, the company could end up pricing its shares even higher, reports CNBC.

At the top of its current range, the company would be valued at nearly $1 billion.

The online travel company will trade under the ticker symbol KYAK on the Nasdaq exchange.

 

Keep reading: All Things D – Kayak Finally Set to Take the Plunge Into Uncertain Market

 

 

Continue reading Kayak to IPO under the name KYAK, valued at $1 billion

Pinterest valued at $1.5 billion – as megalithic Japanese website invests

Rakuten (the Amazon of Japan) has led a $100m funding round into Pinterest, which values the online “curation” community at around $1.5 billion.

The Japanese ecommerce giant won out over major US venture capital firms who were vying for a piece of Silicon Valley’s new sweetheart, which lets users clip images to a virtual pinboard.

The FT spoke to Hiroshi Mikitani, chief executive of Rakuten, about how social discovery can boost ecommerce and the growing importance of images over text on the web.

“I met Pinterest’s management a few months ago and we got along very, very well….They said they were planning to raise capital. I offered to take all of it.”

“They had a prior arrangement with their angel investors so I told them I would like to get as much as possible. We talked about how we can help each other and we can help their presence in Japan which is one of the major markets in the internet industry. And they liked the fact they we would be able to help their business in Japan.”

via – Financial Times

 

// Photo – Alan Cleaver