Hotel search platform Trivago books in IPO

trivago, the German-based hotel search platform, has filed for an initial public offering in the US.

The company, which is majority held by online travel firm Expedia Inc, has yet to announce the number of shares that will be offered as well as the price range for the proposed offering.

trivago intends to list the American depositary shares (ADSs) on The NASDAQ Global Select Market under the ticker symbol “TRVG.”

J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are leading the deal, whereas Allen & Company LLC, BofA Merrill Lynch, Citigroup Global Markets, Inc. and Deutsche Bank Securities Inc. will act as bookrunners.

Cowen and Company, LLC and Guggenheim Securities, LLC are also set to act as co-managers.

Back in July, Expedia CEO Dara Khosrowshahi told investors that trivago could be worth $5bn, which would put the value of Expedia’s 62% stake at $3bn or higher.

Founded in 2005 and headquartered in Dusseldorf, trivago is a hotel search platform which claims to “be the traveler’s first and independent source of information for finding the ideal hotel at the lowest rate.”

As of September 30, 2016, trivago’s hotel search platform offered access to approximately 1.3 million hotels in over 190 countries. trivago’s platform can be accessed globally via 55 localized websites and apps in 33 languages.

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