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After delaying its IPO for almost two years and canceling its most recent investor roadshow following Facebook's disastrous IPO, Kayak has finally priced its valuation this morning. The online travel site has updated its S1 showing shares priced between $22 to $25, with the company looking to raise $100 million. Before Facebook ruined tech IPOs for the year, the online travel site had planned a roadshow the same month as the social network. Seeing how poorly that went, Kayak canceled its roadshow, citing market instability. With Facebook's stock no longer tanking (it's hovering at the $32 mark, still well below its $38 offering) and getting decent analyst ratings that say the price will get back up to, if not above, that $38 mark by year's end, Kayak has decided to move forward with its IPO -- again.

Unlike many tech IPOs in bubble 2.0, Kayak not only has a decent revenue stream, but makes a profit, according to updated financials in its S1. Last quarter, it made a $4.15 million profit on sales of $73.3 million, compared to a $6.9 million loss on $52.6 million in sales in the same quarter last year. This is one of the biggest IPO's since Facebook, yet, its valuation comes in at a not-so-insane $100 million, following a trend of many tech start-ups, which fell back down to earth post Facebook debacle. Even if it is twice the original price, let's not forget the company has had 21 months of growth. 

This move also comes as Facebook and NASDAQ continue to work through their bad romance. Kayak too has decided to trade on the glitchy market that Facebook blames for its poor showing. Though some say NASDAQ ruined its reputation as the tech IPO market, Kayak has committed to the market. Considering the volume differences, NASDAQ shouldn't have a problem, perhaps proving it can do this again. Kayak will offer 4 million shares. Facebook traded 100 million within the first six minutes, and 550 million by day's end

We shouldn't get too excited about any of this, though. The company has yet to set a date for its roadshow. And considering how fickle it has been throughout the whole process, another delay wouldn't surprise anyone. 

This article is from the archive of our partner The Wire.

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