Kayak Shares Jump 30% on First Day

Shares of Kayak Software Corp. (KYAK) were in strong demand its first few hours on the Nasdaq stock exchange. Shares, which began trading late morning, were trading around $34 early Friday afternoon.

Kayak helps consumers compare prices on airlines and vacation packages online. It priced its initial public offering at $26, above the $22 to $25 range it intended to open at. The Norwalk, Conn.-based company is selling 3.5 million shares -- less than 10% of its total shares -- in a $91 million offering.

In its last fiscal year (2011), Kayak brought in $224.5 million in revenue, up 32% from fiscal 2010. Net income grew 21% in that period to $9.7 million.

Kayak competes in a crowded spa…
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