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StumbleTravel seller going public
Tuesday, May 21, 2002 | 11:13 a.m.
CHICAGO -- Orbitz has a new destination: the stock market.
Orbitz, which says it is the third largest online travel site behind Travelocity and Expedia after less than a year on the Web, filed with government regulators Monday to sell $125 million in stock.
In its filing with the U.S. Securities and Exchange Commission, Orbitz said it had a net loss of $103 million last year after launching its Website in June. The loss narrowed in the first quarter to $8.9 million on $32.2 million in revenues.
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