TripAdvisor, going public tomorrow after 11 years in business, seeks a higher profile in travel industry
Eleven years after it began life above Kosta's Pizza in Needham, and seven years after it was acquired by Barry Diller's InterActive Corp. for about $200 million, TripAdvisor is finally gaining a NASDAQ listing of its very own. The company starts trading tomorrow under the symbol TRIP, and it will also be included in the Standard & Poor's 500 index. (TripAdvisor is being spun out from Expedia, which itself was spun out of InterActive Corp. in 2005.) With 1,172 employees, and $486 million in 2010 revenue, TripAdvisor is by far the biggest consumer Internet company in Boston.
The company is throwing parties in New York tonight for advertisers, business partners, and even some of the site's most prolific reviewers, and tomorrow, TripAdvisor chief exec Steve Kaufer is giving a 90-second speech at NASDAQ headquarters, then ringing the exchange's opening bell.