24th December 2007
Kayak.com mounts $196m bid
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A generically named travel search engine has announced that it is to complete the acquisition of another company.
The San Jose Business Journal reports that Kayak.com has put together $196 million of funding in order to bid for SideStep Inc, which will include the acquisition of SideStep.com.
It is reported that the deal will involve a number of major changes including movements within company executive boards although it has been stated that both Kayak.com and SideStep.com will continue to operate as separate entities.
Kayak.com was established in January 2004 with a view to offering consumers a single integrated travel search system and experienced rapid growth in its first year raising an estimated $15 million, the website reported in March 2005.
Commenting on the launch, Kayak.com co-founder Paul English said that the site offered a solution for those who would otherwise spend hours searching online for the right travel deal.
"What's different today is that suppliers all have pretty good websites. You can spend all that time checking them yourselves, or you can go through us," he said.
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