Hotel search site Trivago rises in stock market debut
NEW YORK (AP) — Shares of Trivago, the hotel search company that created a buzz with a rumpled TV spokesman, rose in their Wall Street debut.
Travelers use the German company's websites and apps to search for hotels around the world. Trivago makes money when a user clicks on a hotel, goes to another site and books a room.
Its TV commercials have featured the same spokesman, Tim Williams, for years.
Trivago NV raised more than $287 million after it and its shareholders sold 26.1 million American depositary shares for $11 apiece. The price was below its previously-expected range of $13 to $15 ADS. The stock is trading on the Nasdaq stock exchange under the symbol "TRVG."
The ADS rose 85 cents, or 7.7 percent, to close at $11.85 Friday.