Kayak Acquires Austrian Travel Website JaBo Software For $9.5 Million
Kayak.com has acquired Austrian travel website JaBo Software for $9.5 million. Kayak.com reported first quarter revenues of $53 million, which is 43% growth from a year ago. JaBo Software’s website is www.checkfelix.com. Kayak.com filed their IPO papers this past November and is planning to raise $50 million.
Kayak.com’s first-quarter results include a net loss of $4.5 million. The net loss was caused by a non-cash expense of about $20 million that has to do with the discontinuation of the SideStep brand name and website.
If it was not for that charge, the adjusted earnings before interest and other non-cash items total about $8.2 million. During the quarter, about 214 million queries for travel information was made during the quarter. Kayak’s mobile applications have been downloaded over 7 million times since being introduced too.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry