trivago (TRVG) IPO Opens Modestly Higher

Today's IPO for trivago (NASDAQ: TRVG) opened for trading at $11.20 after it priced its initial public offering of 26.1 million ADSs at $11, below the expected range of $13-$15.

trivago is being spun-out of Expedia (NASDAQ: EXPE).

J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC will act as lead book-running managers. Allen & Company LLC, BofA Merrill Lynch, Citigroup Global Markets, Inc. and Deutsche Bank Securities Inc. will act as bookrunners and Cowen and Company, LLC and Guggenheim Securities, LLC will act as co-managers.

Founded in 2005 and headquartered in Dusseldorf, Germany, trivago is a global hotel search platform focused on reshaping the way travelers search for and compare hotels. trivago’s mission is 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 global 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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