Trivago goes public but what about advertising?
Steve’s breakdown: Will the Trivago guy keep his job? Is he the tail wagging the dog? Dos Equis killed the “Most interesting man in the world”. Don’t think Trivago isn’t stupid enough to do the same with their Guy! ~~~
Jon Eicrhelberger is the lead contact.
NEW YORK, NY: Hotel booking website Trivago opened at $11.20 per share in its debut Friday on the Nasdaq stock exchange.
Trading under the symbol “TRVG,” the stock was up more than 7.5 percent midday Friday from its IPO pricing of $11 a share. Reuters had earlier reported that the company’s indicated IPO price range was $13 per share to $15 per share.
The offering will value Trivago as a stand-alone company, controlled by Expedia, which owned 63.5 percent of the company as of Sept. 30, according to the prospectus. Expedia CEO Dara Khosrowshahi told investors in July that it did not plan to sell its own shares.
Germany-based Trivago posted revenue of $425.6 million in the nine months ended Sept. 30, the company’s prospectus said. It has an international presence via 55 localized websites and apps in 33 languages.
The company’s offering comes as start-ups like Airbnb provide challenges to traditional hoteliers, and amid a tepid IPO market. There have been 120 offerings filed so far this year, a 47.1 percent decline from last year, according to Renaissance Capital.