Travel review site TripAdvisor will launch on the Nasdaq stock exchange today with an expected value of around $4bn. TripAdvisor shares, being traded under the name TRIP, will go on sale at 09:00hrs in New York.
The company, which has websites in 30 countries, is being spun off by parent Expedia.
Expedia has been the largest buyer of advertising on the TripAdvisor website, accounting for as much as 35% of its total revenue, according to a report in today's Financial Times. However, the company expects to attract more business from Expedia's rivals following the sale.
After the spin-off, Expedia will no longer have any ownership interest in TripAdvisor.
By Linsey McNeill
(Source: Travelmole.com - http://www.travelmole.com/news_feature.php?news_id=1150777 )
TripAdvisor makes Nasdaq debut
By Johanna Jainchill
TripAdvisor began trading as an independent public company on Wednesday on the Nasdaq Stock Market under the ticker symbol TRIP, following the completion of its spin-off from Expedia Inc.
To mark the occasion, TripAdvisor co-founder and CEO Stephen Kaufer visited Nasdaq’s headquarters in New York City's Times Square to ring the opening bell.
“This is a truly exciting time for TripAdvisor, and we are eager to continue to innovate on behalf of our users and grow the business as we enter this next chapter,” Kaufer stated on TripAdvisor's blog.
At 11:24 a.m. Eastern, TripAdvisor shares were down about 5.5%, trading at $28.55.
(Source: Travelweekly.com - http://www.travelweekly.com/Travel-News/Travel-Technology/TripAdvisor-makes-Nasdaq-debut/ )
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