Preview of the journey has been a leader in online travel, forming a $ 80 million orders in 1997 and growing at 34% annual growth rate for the quarter. This case describes the evolution of the business image travel plan and funding strategy and provide financial turning point that the company faced in August 1997. In August 1997, the company was in need of additional cash infusions and received strong indications of interest from major U.S. media companies. However, the picture was disappointed tourist offer media companies eventually did - $ 4.50 a share - as it was much less than the Series E round the previous year ($ 9.00 per share). Investment bank advising travel image is believed that the image of journey can gain a higher score on the open market and recommended that the company consider the IPO as an alternative means of raising capital. However, there are risks of this strategy. Closes with a question of image Travel must take "sure", but low supply of media companies or continue rapid and potentially dangerous IPO. "Hide
by William A. Sahlman, Nicole Tempest Source: Harvard Business School 19 pages. Publication Date: October 19, 1998. Prod. #: 899085-PDF-ENG
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