Trivago, the hotel search company owned by Bellevue-based Expedia, priced its IPO on Thursday at $11 per share with the stock expected to begin trading on Friday morning on the Nasdaq under the ticker TRVG.
The pricing of the 26.1 million American depositary shares fell below expectations, with the German-based company raising an estimated $287 million. Trivago originally planned to price 28 million shares in the $13 to $15 range, according to Skift.
In 2012, Expedia acquired a 61.6 percent of Trivago for $632 million. Trivago, which attracted 1.4 billion visits to its Web site and apps for the 12 months ended on Sept. 30, says its mission is to “be the traveler’s first and independent source of information for finding the ideal hotel at the lowest rate.”
Expedia will remain a majority shareholder in the company, which approved the IPO in order to provide liquidity to the Trivago founders.
The pricing at Trivago follows a down year for IPOs in the U.S., with just 105 companies pricing shares in the U.S. That’s down 38 percent from 169 at this time last year and well off the 275 IPO pricings in 2014, according to Renaissance Capital.
