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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win

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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Finance

Travelport checks in for an IPO in the U.S.

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Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
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June 4, 2014, 12:01 PM ET
Holiday Travel Gets Underway Ahead Of Thanksgiving Weekend
ARLINGTON, VIRGINIA - NOVEMBER 23: Travelers make their way to flights in the concourse of Ronald Reagan Washington National Airport on one of the nation's busiest travel days of the year November 23, 2011 in Arlington, Virginia. The American Automobile Association projects that 42.5 million people are likely to drive, fly or take the train to their Thanksgiving gatherings, the largest number since the beginning of the recession. (Photo by Win McNamee/Getty Images)Win McNamee Getty Images
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Travelport, the travel-booking system Blackstone Group (BX) bought eight years ago, is ready for its public debut.

The Atlanta-based marketplace used by travel agents to book flights, rental cars, and hotels filed for an initial public offering Wednesday with a placeholder sum of $100 million, an initial figure used to calculate costs that may change.

Travelport, which reported a net income loss of $207 million last year on more than $2 billion in revenues, could raise about $500 million in the offering, according to a Bloomberg News report.

Travelport initially tried to list in London in 2010, but its plans were waylaid due to the debt crisis in Europe. The company has struggled to turn an annual profit since 2011 and plans to use the IPO funds raised to pay down part of its debt. Travelport reported almost $3.4 billion in long-term debt as of March 31.

Blackstone initially invested $4.3 billion in the travel platform in 2006. The filing didn’t specify the percentage of shares the private equity firm holds. Other investors include Technology Crossover Ventures, One Equity Partners, and Morgan Stanley.

Morgan Stanley is managing the listing, which will use the ticker symbol TVPT. The company has not specified on which exchange it will list.

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