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Kayak Goes Exponential (And Stalls)

Tyler Durden's picture


UPDATE: It would appear $32.75 is the line in the sand...

After pricing its IPO at $26 and opening at $30.10, the latest poster-child for the awesomeness of the US capital markets has pushed up to over $34.50. While Fender cites market conditions, it seems 'investors' can't get enough of this Silicon Valley 'special offer'. This one should be interesting...

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Fri, 07/20/2012 - 11:28 | 2636266 mrjig27
mrjig27's picture

Row, Row, Row,

Fri, 07/20/2012 - 11:30 | 2636285 Pladizow
Pladizow's picture

Of course its rocketing higher, no one else currently does what they do and there are so many barriers to entry!

Fri, 07/20/2012 - 11:31 | 2636290 Popo
Popo's picture

That was a joke, right?

Fri, 07/20/2012 - 11:33 | 2636298 Thomas
Thomas's picture

Most certainly.

Fri, 07/20/2012 - 11:50 | 2636358 Skateboarder
Skateboarder's picture

I  can compare prices... but I can't afford them lol.

Fri, 07/20/2012 - 11:58 | 2636398 TruthInSunshine
TruthInSunshine's picture

Frank Reardon will ultimately be glad he wasn't allowed anything Kayak.

We're at pets.com v2.0, bitchez. The Nasdaq is going to bend and puke, and lead equity markets down Bernank's gerbil hole.

Fri, 07/20/2012 - 11:33 | 2636299 Pladizow
Pladizow's picture

No, also dont forget all the sheeple who still have unlimited access to their ATM HELOC's to take extravigant vacations!

Fri, 07/20/2012 - 11:50 | 2636359 Popo
Popo's picture

Oh yes. Googling for companies that search for low priced airline tickets miraculously turns up just 1 result: Kayak.

And Sabre, the database company behind online travel booking, also miraculously has just one client: Kayak.

Now I understand your bullishness.


Fri, 07/20/2012 - 11:32 | 2636293 SHEEPFUKKER

All my gold overboard in Kayak accident. 

Fri, 07/20/2012 - 12:09 | 2636441 Normalcy Bias
Normalcy Bias's picture

...and don't forget that you were drunk when the accident happened, so you can't remember the exact location.

Fri, 07/20/2012 - 13:30 | 2636844 Taterboy
Taterboy's picture

Soon to be Up Shit Creek Without A Paddle

Fri, 07/20/2012 - 13:35 | 2636871 Taterboy
Taterboy's picture

Symbol KYAK. That's the sound my cat makes when she coughs up a hairball!

Fri, 07/20/2012 - 18:11 | 2637875 scam_MERS
scam_MERS's picture

Their website blows, I used it several years ago when they first appeared, and it hasn't gotten any better. All it does is link to other sites, popping up windows all over the screen and you still have to enter more info in most cases, to see anything of use at all. I can accomplish the same thing without them, and with less confusion, by just opening the sites myself directly, one-by-one. Why use this mess of a website? FAIL!

Fri, 07/20/2012 - 11:29 | 2636275 RacerX
RacerX's picture

Follow the bouncing ball..

Fri, 07/20/2012 - 11:32 | 2636294 THX 1178
THX 1178's picture

There is a hand to turn the time

Through thy glass today be run

Fri, 07/20/2012 - 11:31 | 2636289 Thomas
Thomas's picture

They cannot afford another IPO fuckup.

Fri, 07/20/2012 - 11:38 | 2636321 TrainWreck1
TrainWreck1's picture

Morgan Stanley backing this one too...

"Kayak has a created a structure with two share classes – A and B. The IPO will be for the Class A shares; all shares issued before the IPO will be converted to Class B shares, which have 10 votes each. The company notes that the Class B shares will have 98.6% voting control after the offering. After the offering, the company expects to have 38.56 million total shares outstanding; at the IP price the deal gives the company a valuation of about $1 billion." (Forbes about an hour ago)

IIRC, MS was pumping billions in FB to defend price point after price point. They could easily ppump this sucker on their own to give the illusion that they are back and Winning!


Who buys this crap anyway?


Fri, 07/20/2012 - 11:46 | 2636349 monopoly
monopoly's picture

Excellent question TrainWreck. I wish I had the answer. 

Fri, 07/20/2012 - 11:34 | 2636304 jerry_theking_lawler
jerry_theking_lawler's picture

kayak is down the creek without a paddle....

Fri, 07/20/2012 - 11:46 | 2636306 Mercury
Mercury's picture

But will the world really benefit from the added efficiency of a travel site aggregator of travel site aggregators when you're going to spend five hours getting slapped around in the airport anyway?

Fri, 07/20/2012 - 11:34 | 2636307 firstdivision
firstdivision's picture

Sell OTC backdoor shares that you don't quite own yet, but plan to in the future.

Fri, 07/20/2012 - 11:36 | 2636310 digalert
digalert's picture

I thought the Bamster was shutting down guitar makers, or is it just Gibson guitars?

Fri, 07/20/2012 - 11:44 | 2636331 Mercury
Mercury's picture

If a Republican administration were so abusively slapping around an iconic, American guitar maker like this there would be a much bigger fuss...


Fri, 07/20/2012 - 12:10 | 2636449 Freewheelin Franklin
Freewheelin Franklin's picture

Just the ones that opened up nonunion shops in southern states.


Paybacks are a bitch.

Fri, 07/20/2012 - 11:38 | 2636316 hedgeisforpussies
hedgeisforpussies's picture

its a bull market you know...

Fri, 07/20/2012 - 11:51 | 2636320 Matt
Matt's picture

Did FNDR just get unIPO'd?

EDIT: yes. strangely, I was looking at a chart with prices between $6 and $13 then it vanished.

Fri, 07/20/2012 - 11:44 | 2636344 monopoly
monopoly's picture

So I guess we need another software intrusion company since there are only a dozen or so out there and since everything is getting better we have to have another company that specializes in.....vacations. Makes a lot of sense to me in this upside down world.

Fri, 07/20/2012 - 11:51 | 2636361 BeetleBailey
BeetleBailey's picture

Personally, I'm waiting for Hopium.com to go public.

JP Morgoon to underwrite.

Jim Crapper pumping the fuck out of it on cBULLSHITnbc

The Wall Street Urinal to write a clever story on it, replete with nano-dotting pictures of the CEO, Horse Shitenstein

...and ZH the only outlet bashing it......

It should zoom to 100.....

<heavy...heavy...Wisconsin ladled creamed over sarasm, with a dash of poo>

Fri, 07/20/2012 - 12:44 | 2636541 spanish inquisition
spanish inquisition's picture

Wow! How lucky can you get. I mean the timing of a Chipotle downgrade just before an IPO. Where can all the momo traders go? Boy, you couldn't get a better result if all these banks were talking to each other.

Fri, 07/20/2012 - 12:45 | 2636620 covert
Fri, 07/20/2012 - 13:59 | 2636975 Squid Vicious
Squid Vicious's picture

anyone buying here is gonna be up shit's creek without a kayak

Fri, 07/20/2012 - 15:09 | 2637318 Scalaris
Scalaris's picture

Every time a tech co. goes public, I die a little bit inside.

I then short the shit out of it, and drown the pain in expensive liquor.

Fri, 07/20/2012 - 16:32 | 2637663 billsykes
billsykes's picture

I do not think Kayak has a competitive advantage or even a must have- all it does is API into other existing sites and show the prices.

Maybe the aggragation of flight pricing data is mildly intersting but is not worth the effort to carefully watch and is USA centric only.

All at a time when the majority of americans are not taking a vacation this year or any other year. 

Expedia and travelocity, hotels.com actually have a conduit directly to the airline, hotel, car.

Kayak is like a fund of funds, never really giving a good return.



Fri, 07/20/2012 - 16:36 | 2637676 Remington IV
Remington IV's picture

That was a joke .... right ??? ... right ???

Sat, 07/21/2012 - 10:22 | 2638653 Grand Supercycle
Grand Supercycle's picture

SP500 downleg expected to continue next week onwards.


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