Kayak CEO Tried to Take the Company Private: Scoop
Photo Credit: Kayak
Skift Take
There's no doubt that an independent and privately held Kayak, freed from the broader considerations of Booking Holdings, could have benefited from focused investment and attention.
Kayak co-founder and CEO Steve Hafner explored taking the travel search brand private roughly 18 to 24 months ago, but the proposal was vetoed by Booking Holdings CEO Glenn Fogel, two industry sources told Skift.
Kayak is owned by Booking Holdings, and beyond strategic considerations, Fogel was also reluctant to lose Hafner due to his broader contributions to the parent company, according to one source. Hafner had lined up private equity backing for the deal, both sources said.
Booking Holdings also owns other major travel brands, including Booking.com, Priceline, Agoda, and OpenTable.
Hafner declined to comment, as did a spokesperson for Booking Holdings.
Kayak's AmbitionsHafner has led Kayak for more than two decades. The company was acquired in 2013 for $2.1 billion
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