Following Facebook's flop on the NASDAQ, the travel deals site Kayak has postponed its plans for a $50 million IPO. The company originally filed to go public in November 2010 and was gearing up to trade on the NASDAQ under the ticker symbol KYAK. In December 2007, Kayak raised a massive $196 million in Series D funding from a powerful investor group (including Sequoia Capital, General Catalyst Partners and Accel Partners) to buy its rival SideStep for $180 million.
Since the beginning of the year, thirteen venture-backed companies have now postponed or canceled their IPO plans, according to the PitchBook Platform. The Healthcare industry has comprised the most of these plans gone awry (38% of the total), with TVAX Biomedical, TRIA Beauty and Rib-X Pharmaceuticals all forgoing their go-public plans this May. Kayak is the latest VC-backed company to join the IT industry's no-go IPO list, which is second only to Healthcare for cancellations and postponements.