Business

Kayak raises $91m in long-delayed IPO

Online travel services company Kayak Software Corp. has raised $91 million in its long-delayed initial public offering, selling 3.5 million shares Thursday at a price of $26 – more than the range it earlier proposed, according to Bloomberg News.

Kayak, which is based in Concord and Norwalk, Conn., begins trading Friday on the Nasdaq Stock Market, under the symbol KYAK.

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Kayak, which originally filed for an initial public offering in 2010, is the first US consumer Internet company to go public since Facebook Inc.’s disappointing market debut in May.

Kayak reported revenue of $73 million in the first uqarter of 2012, up 39 percent from the same period last year.

Globe Staff

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