Kayak Software Quarterly Sales Rise on Online Travel Demand
Kayak Software Corp., the online- travel company that’s planning an initial public offering, said sales rose 43 percent last quarter to $52.7 million amid buoyant demand for trip-planning information over the Web.
The loss widened to $6.91 million in the first three months of 2011, from $854,000 a year earlier, after Kayak wrote down $15 million in assets related to its SideStep brand, the Norwalk, Connecticut-based company said in a filing today.
Kayak is benefitting as consumers turn to the Internet for deals on flights and hotels, even as competition mounts from rivals including Microsoft Corp. (MSFT) and Google Inc. (GOOG) Kayak had 214 million user queries in the quarter, up 48 percent from the same period a year earlier.
Google stepped up competition today with a new schedule service that enables users to find flights from the main search engine, according to a company blog post. The feature gives flight information in the query results, including airports, times and airline providers.
Last month, Google gained airfare-data provider ITA Software Inc., which the company has said it will use to create better search tools that speed comparison of flight choices and direct users more quickly to ticket-purchase websites.
Kayak decided in January to migrate traffic from SideStep in the U.S. to its main site, www.kayak.com.
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