THE NEWS: The $457 million write‑down of Kayak by its owner Booking Holdings last October marks the biggest valuation hit for the metasearch platform in recent years. In February, Kayak’s co‑founder and CEO of 22 years stepped down, and in May Skift reported that Booking’s AI travel initiative is being built by Kayak’s founders under a new name.
DETAILS:
– Kayak was launched in February 2005 as a flight‑search engine.
– The platform now also aggregates hotel inventory alongside flights.
WHY IT MATTERS: The write‑down and leadership turnover highlight Booking Holdings’ struggle to monetize Kayak and could prompt travel agents and OTAs to reassess reliance on its platform.
Reference: Source
