Published on Wednesday, December 21, 2011
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
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.