Kayak Makes $244 Million In Revenue
Travel search engine Kayak.com has had to postpone its IPO yet again due to unfavorable market position but that hasn’t stopped the company from revealing some spectacular numbers for Q3.
According to a SEC filing, Kayak made $61.16 million in revenues for the quarter ending 30th September 2011—a hefty 28% increase over the corresponding quarter of 2010. Q2 also saw a slight improvement on 2010’s figures with revenues of $56.7 million. Net income figures were also dramatically improved and Kayak posted a 44% increase over 2010 with net income of $12.7 million. Profits were also up from the $5.7 million recorded in the second quarter of 2011.
Based on these numbers, it is clear that Kayak is ready for the IPO in terms of raw appeal to investors. The only thing that is holding it back as mentioned above is the slow economy. Travel, especially overseas is one of the first things that people look to cut when times get hard so sites like Kayak are always heavily dependent on strong job growth and high disposable incomes.
Investors will also need to see that Kayak is able to keep up with the competition. Google has recently entered the space and many are tipping it to gain solid market share with its entry using popular ITA travel software on top of its huge travel data. The battle will be interesting to watch.
Do you use Kayak’s travel search engine? Share your experience with it in the comments below.