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1、The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and we are not soliciting offers to buy th
2、ese securities in any jurisdiction where the offer or sale is not permitted. PROSPECTUS (Subject to Completion) Issued July 9, 2012 3,500,000 SHARES KAYAK Software Corporation CLASS A COMMON STOCK KAYAK Software Corporation is offering 3,500,000 shares of its Class A common stock. This is our initia
3、l public offering, and no public market exists for our shares. We anticipate that the initial public offering price will be between $22.00 and $25.00 per share. Upon the completion of this offering, we will have two classes of authorized common stock, Class A common stock and Class B common stock. T
4、he rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible at any
5、 time into one share of Class A common stock. Upon completion of this offering, the holders of our Class B common stock shall be able to exercise in respect thereof not less than 98.6% of the voting power of KAYAK Software Corporation. Moreover, all shares of our common stock and preferred stock out
6、standing immediately prior to completion of this offering will automatically be converted into shares of our Class B common stock and all outstanding options and warrants exercisable for shares of our common stock and preferred stock will automatically become options and warrants exercisable for sha
7、res of our Class B common stock upon completion of this offering. Concurrently with this offering we may issue additional shares of Class A common stock in private placements to certain existing stockholders. The number of shares issued in these private placements will depend on the initial public o
8、ffering price. We will not pay any underwriting discounts or commissions on the shares issued in these concurrent private placements. See “Concurrent Private Placements.” We are an “emerging growth company” as defined in the Jumpstart Our Business Startups Act and will therefore be subject to reduce
9、d reporting requirements. We applied to list our Class A common stock on the NASDAQ Global Select Stock Market under the symbol “KYAK.” Investing in our Class A common stock involves risks. See “Risk Factors” beginning on page 12. PRICE$A SHARE Price to Public Underwriting Discounts and Commissions
10、Proceeds to Company Per share . . . . . . . . . . . . . .$ Total . . . . . . . . . . . . . . . . . .$ KAYAK Software Corporation has granted the underwriters the right to purchase an additional 525,000 shares of Class A common stock to cover over-allotments. Neither the Securities and Exchange Commi
11、ssion nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The underwriters expect to deliver the shares of Class A common stock to purchasers on, 2012.
12、MORGAN STANLEYDEUTSCHE BANK SECURITIES PIPER JAFFRAYSTIFEL NICOLAUS WEISELPACIFIC CREST SECURITIES , 2012 TABLE OF CONTENTS Page Prospectus Summary . . . . . . . . . . . . . . . . . . . .1 Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Special Note Regarding Forward-Looking Sta
13、tements . . . . . . . . . . . . . . . . . . . . . . . . . . .29 Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . .31 Dividend Policy . . . . . . . . . . . . . . . . . . . . . . . .31 Capitalization . . . . . . . . . . . . . . . . . . . . . . . . . .32 Dilution . . . . . . . . . . . . .
14、. . . . . . . . . . . . . . . . . .34 Selected Consolidated Financial and Operating Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36 Managements Discussion and Analysis of Financial Condition and Results of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . .39 Busi
15、ness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63 Management . . . . . . . . . . . . . . . . . . . . . . . . . . .76 Page Executive Compensation . . . . . . . . . . . . . . . . .89 Certain Relationships and Related Party Transactions . . . . . . . . . . . . . . . . . . . . . . . . .
16、111 Principal Stockholders . . . . . . . . . . . . . . . . . . .116 Description of Capital Stock . . . . . . . . . . . . . . .121 Material U.S. Federal Income Tax Considerations to Non-U.S. Holders . . . . . .127 Shares Eligible for Future Sale . . . . . . . . . . . . .131 Underwriters . . . . . . . . . . . . . . . . . . . . . . . . . . .133 Concurrent Private Placements . . . . . . . . . . . . .138 Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . . .140 Experts . . . . . . . .
