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Expedia's German Hotel-Booking Site Trivago Files for IPO

Published on Nov 15 2016 11:52 AM in Hotel tagged: hotels / trivago / expedia / Goldman Sachs / Morgan Stanley

Expedia's German Hotel-Booking Site Trivago Files for IPO

Expedia's German hotel-booking site Trivago filed for an initial public offering in the US.

Trivago, through holding company Travel BV, filed with an offering size of $400 million, which is a placeholder amount that may change. It is seeking to list its American depositary receipts on the Nasdaq under the symbol TRVG, according to a regulatory filing.

Trivago will have two classes of shares after the offering. The company plans on selling Class A shares to the public, according to the filing. Those shares are currently held by Trivago management including Rolf Schroemgens, Peter Vinnemeier and Malte Siewert.

Class B shares will be held solely by Expedia, which doesn’t plan to sell its stake.

Expedia first bought into Trivago in 2012, paying about $628 million in cash and stock for 61.6 percent of the company. The acquisition was part of a push by Expedia to expand its presence in Europe.

Trivago posted a net loss of $57.8 million on revenue of $425.6 million in the first nine months of this year, according to the filing. JPMorgan Chase & Co., Goldman Sachs Group Inc. and Morgan Stanley are leading the offering.

News by Bloomberg, edited by Hospitality Ireland

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