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Trivago files to go public in what could be one of the biggest IPOs of the year
(YouTube/trivago)
Trivago, the online hotel search company backed by Expedia, has filed to go public.
JPMorgan, Goldman Sachs, and Morgan Stanley are leading the deal, which will list on the Nasdaq under the ticker "TRVG."
Allen & Company, Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Cowen and Company, and Guggenheim Securities are also on the deal.
Analysts have previously valued Trivago at $5 billion.
Business Insider previously reported that Trivago was looking to list its shares by the end of November. A filing at this point in the month makes that impossible, but Trivago could still debut before the end of the year.
Expedia said in July that Trivago had generated $200 million in revenue in the second quarter, and more than $660 million on a trailing 12-month basis.
The listing would mark another step toward the tech IPO market's comeback. Deal activity all but stopped last year as investor sentiment soured, and has been slow to pick up in 2016. The largest tech IPO to date was by Japanese messaging app Line, which listed in Tokyo and New York in July and raised $1.24 billion, about two-thirds of which was in the US.
Nasdaq vice chairman Bruce Aust told Business Insider earlier this month that he expects four or five technology IPOs before the end of the year.
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