Orbitz IPO Greeted With A Yawn

from the full-circle dept

Throughout its relatively short history, online travel site Orbitz has undergone quite a number of ownership changes. Last year, Orbitz' parent company was bought out by private equity firm Blackstone, which promptly decided to flip it back to the public markets. When it first filed to go public, there were many who argued that the company looked like a terrible investment for both operational and structural reasons. It looks like the market agrees with that assessment, as the IPO ended up pricing below its expected range. Private equity firms aren't infallible, and sometimes they're bound to buy companies that they can't turn into very much. But as more of these unimpressive offerings come to market, there's going to be increased skepticism over whether these firms can apply their magic touch to the tech industry.
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Filed Under: ipos, private equity
Companies: blackstone, orbitz


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  1. identicon
    Anonymous Coward, 20 Jul 2007 @ 3:20pm

    I use Orbitz to find the cheap flights, then I go to the actual airline and buy the tickets. Why pay $5 more to Orbitz instead of paying $5 less and buy the tickets from the actual airline?

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