Hear from CIOs, CTOs, and other C-level and senior execs on data and AI strategies at the Future of Work Summit this January 12, 2022. Learn more

They say a rising tide can lift all the boats in a harbor. The same logic applies to a sinking tide, and Kayak apparently has no intentions of going down with the ship, so to speak.

Enough of the watery metaphors: Plainly put, the Facebook IPO has been something of a disaster, and it’s causing other recently-gone-public tech stocks to take a hit as well. Kayak was planning on an IPO this quarter with a roadshow starting last week; however, executives have decided to put off the deal until the market stabilizes, Bloomberg has reported.

Around the time Facebook itself was prepping to go public, we heard rumors of a delay for the same reason: tech stocks were taking a beating in the public market. Facebook decided to forge ahead, and as a result, its shaky first day on the NASDAQ stock exchange quickly turned into a downward spiral as the stock price plummeted. So far, it’s down 26 percent, give or take, from where it started a couple weeks ago.

And as Facebook, the biggest social network of them all, drifted gently downward like a punctured zeppelin, others followed suit. Check out these sweet stats we gathered for you:

YELP Chart

Practically the only newer tech stock that hasn’t followed the same pattern is LinkedIn, to which we say, not bad, folks.

Kayak, which was planning on a $150 million IPO, originally filed to go public back in late 2010 but has been hesitating ever since due to sub-optimal market conditions. We’ll all have to wait and see when tech stocks pick up steam again — but rest assured, they will eventually recover.


VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member