Travel Tech Rollup Mondee's Public Debut Sets Stage for New Organic Growth
Photo Credit: Mondee debuted on the Nasdaq stock market on Tuesday July 19. Source: Nasdaq. Nasda
Skift Take
They did it. Despite the cratering of the stock market, Mondee went public on Nasdaq. Sure, most investors vetoed the blank check merger. But still, a win is a win — for now.
Since its start in 2011, Mondee has aimed to go public. Like a snowball rolling down a mountain, the travel tech company based in California grew bigger through a series of acquisitions. The travel technology firm on Tuesday finally debuted on the Nasdaq stock market with a market capitalization of approximately $740 million.
“The capital raised through this transaction along with our new access to the public markets will allow Mondee to capitalize on the massive organic and inorganic growth opportunities in the travel industry," said founder and CEO Prasad Gundumogula.
The triumph was muted, though. Mondee will pick up about $77 million in funds
