European metasearch giant Trivago filed its long awaited initial public offering (IPO) in the U.S. today as parent Expedia tries to further monetize a fast-growing marketing vehicle in a manner that has similarities of its spinoff of TripAdvisor several years ago.
Trivago will be listed on the NASDAQ under the ticker symbol TRVG, using a holding company named Travel BV. Expedia Inc.owns a large chunk of the company after buying into 63.5 percent of Trivago for $628 million in cash and stock in 2012. Expedia plans to retain its stake in Trivago following the IPO, which it has entrusted to banks J.P. Morgan, Goldman Sachs, and Morgan Stanley.
Trivago’s IPO filing shows that it is performing well, especially with respect to driving visitors to its site.
“In the twelve months ended September 30, 2016, we tracked approximately 1.4 billion visits to our websites and apps, resulting in 487 million qualified referrals, and offered access to approximately 1.3 million hotels in over 190 countries,” reads the filing. The company’s net loss was USD 57.8 million in the first nine months of 2016.
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