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Priceline.com is the world's first buying service through which consumers name the price they're willing to pay. Leveraging the unique attributes of the Internet, priceline finds sellers willing to meet buyers' needs and price, thus facilitating thousands of buyer-driven transactions each day.
In April 1998 priceline launched with its service enabling consumers to name their own price for leisure airline tickets. In July, priceline unveiled its New Car Buying Service, expanding its "buyer-driven commerce" concept to offer new cars. In the months to come, priceline will allow you to name your price for everything from vacation packages to financial services.
"For consumers who know what they really want and what they're willing
to pay, priceline.com seems foolproof."
-Inc. Online
"Priceline's model of letting consumers name their price is something
consumers have always wanted, but [they had] not found a receptive
community of retailers."
-MC Magazine
"Think hotel rooms are out of line? OK, then name your own price. So
says priceline, a Stamford company that grabbed headlines last spring by
acting as a middle man between some airlines and customers who preferred
to name their own price."
-Hartford Courant
"THE SKINNY: As a Web site, priceline is attractive and relatively easy
to use. As a service, priceline's worth is simple to measure: if you're
about to buy an airline ticket or a car, hunt out the lowest price you can
find. Then spend fifteen minutes making a bid on priceline. If you get a
better price, then it was worth the trip."
-atnewyork.com
"There are sites such as priceline.com where you can enter a price and
see if someone will offer you what you want for that price. We seem to be
moving from an era of fixed pricing to an area of real-time pricing, where
everything is subject to change."
-PC Magazine
"If you want to see a company pushing at the boundaries of
American-style capitalism, take a look at priceline.com, a start-up that
uses an unusual mechanism to sell thing on the Internet."
-Financial Times
"After shaking up the air travel reservation industry, priceline.com
Inc. today is set to launch a new name-your-own-price reservation service
that lets consumers pick the price they're willing to pay for rooms at
brand-name hotels in 26 cities in the U.S."
-Inter@ctive Week
"Jay Walker, 43, founder and Vice Chairman of priceline.com, has
created a model for buying and selling that's so original, it's been
patented. Walker calls his model "buyer-driven commerce," and he's racing
to build a big company around it. "
-Fast Company
"The Internet has helped a handful of young U.S. companies to become
"household names" much faster than the brand giants of the past carved out
their strong identities. A new study, conducted by Opinion Research
Corporation International of Princeton, N.J., found that there are seven
Internet-related companies whose names are now recognized by more than 50
million U.S. adults, or more than one in four. The seven so-called
"Internet mega-brands" are: America Online, Yahoo!, Netscape
Communications, Amazon.com, priceline.com, Infoseek and Excite."
-Philadelphia Daily News
"Online travel companies are no longer news. In order to capture
headlines today, a company needs to have a special hook. No business
understands that reality more clearly than Stamford, Conn.-based
priceline.com. The company has attracted worldwide attention since its
debut in April by spending millions of dollars on an advertising campaign
featuring William Shatner, who introduces budget-conscious consumers to a
new and novel way to buy airline tickets (and cars as well, in some
locations)-by letting them name their price."
-Travel Agent Magazine
"The Internet has just started to open the doors to paradigm-shifting
business models. One example is priceline.com, the recently patented
e-commerce system where prices for airline tickets and new cars are set
not by the seller, but by the buyer - in real time."
-Compaq Customer Solution
Story
"Guess what the best-known online brands are? A recent list compiled by
Opinion Research of Princeton, N.J., includes the usual suspects-Yahoo,
Netscape, Amazon, Infoseek, Excite - and one dark horse: priceline.com."
-TechWeb
"Buying online is changing too. With the new airfare site,
Priceline.com, you enter in your dates, destination and maximum spending
amount, and if a match becomes available, the ticket is yours. That's how
buying on the Net will be soon. "
-PCWeek Online
"Most creative way to get a good deal. Priceline.com."
-Yahoo! Internet Life
"Priceline.com, a three month old travel agency, has already turned our
traditional shopping paradigm upside down. The old way: Airlines set
prices for airline tickets. A customer decides whether or not to buy one.
There is no negotiation and no obligation. The Priceline.com way: A
customer keys in how much he's willing to pay to fly from one city to
another on specified dates and guarantees his offer with a credit card. If
Priceline.com has an appropriate fare in its database from any of 15 major
airlines, which operate anonymously under the Priceline.com umbrella, it
will accept the offer within an hour (24 hours for international
flights)."
-Worth
"Travel Smart, a consumer-oriented monthly newsletter, cites several
travelers whose bids were accepted and concludes: 'Our advice? Give
Priceline a try. You have little to lose."
-Houston Chronicle
"Priceline's consumer-driven approach separates it from other online
outfits that sell airline tickets, including Travelocity and Expedia,
which quote fares directly from airlines. By flipping the system around,
Priceline is making its mark in the burgeoning online business world and
in the process providing a pioneering model for Internet commerce,
analysts said."
"I absolutely think it's a great idea," said Stacey Bressler, vice
president of business development for Palo Alto, Calif.-based CommerceNet
Inc., a business consortium that promotes electronic commerce. "It's a
model we refer to a reverse auction technology. It's been a standard
business practice between companies for a long time, but the fascinating
thing is that this economic power is now being transferred to the
individual because of the Internet."
-Washington Post
"If nothing else works, Priceline is your last resort. Submit a bid
that makes sense to you - a figure you're willing to pay, lower than your
cheapest alternative, but not below the airlines' lowest asking price for
a restricted ticket. You won't always get a ticket that way. But at least
you won't risk overpaying."
-San Diego Union-Tribune
"Priceline is another exciting example of the Web's potential to turn
traditional marketing on its head. If your offer is accepted, you find out
within an hour, and you could end up with a real bargain (if you're a
flexible traveler)."
-PC Magazine Online
"It's not a traditional supply-and-demand market anymore. Priceline
flips the power relationship on its head where the customer is telling you
what he will pay."
-Interactive Week
"Like a good matchmaker, Priceline.com has both pieces of information,
and brings the suitors together. The airline is happy because it now has
additional revenue, the traveler is happy with the ticket at the price
that the traveler wanted to pay …"
-The Wilton Bulletin
"Priceline.com is less than two months old - and is already one of the
hottest consumer sites on the Internet. Priceline.com represents an
important step forward in the development of buying tickets online."
-Business Week
"For the first time, major airlines have agreed to listen and consider
your price. That's a revolution that only the Internet could have made
possible."
-MSNBC
"So simple. So clever. So much an idea whose time has come that you
wonder why…well…it hasn't been done before."
-Zcommerce
"In its first six weeks of operation, Priceline.com reports it sold
more than 10,000 airline tickets. The site, which operates on the basis of
consumers agreeing to buy tickets at a price if the airline will sell
them, said the sales pace has picked up and that Tuesday (June 9) 1,000
tickets were sold. A consultant to priceline.com, familiar with the travel
business, said this level of business makes the site one of the nation's
10 largest leisure airline ticket sellers."
-CBS MarketWatch
"If your plans are flexible and you aren't fussy about which airline
you can fly, Priceline.com might be just the site you're looking for."
-CNN Interactive
"Less than three weeks after breaking into the emerging (but hotly
contested) online travel marketplace, Stamford, CT-based priceline.com is
already turning heads."
-The Daily Travel Report
"Priceline.com's drill is remarkably simple. You log on to
www.priceline.com (or call their 800 number) and send them a message
telling them where you want to go, when you want to go there, and how much
you want to pay for the privilege."
-The Boston Globe
"Arthur Frommer, editor in chief of Budget Travel Magazine and a
leading travel authority, has given the service his blessing. 'Priceline
is ideal for leisure travelers who want the quality of a major carrier and
are willing to offer a reasonable price for a ticket. It is especially
useful for millions of consumers who try to book their trip close to
departure, when low-price fares are often unavailable'."
-The St. Louis Post-Dispatch
"Shopping for cheaper tickets electronically is just one of the ways
that the Internet is changing the business of travel. 'It's a little
evolutionary and a little revolutionary,' said David Kirby, editor of
Interactive Travel Report."
"The Priceline.com model is the first of its kind and is unique to the
Internet, Kirby said. 'I don't think there is any other way to reach the
number of people to do such a program,' he said."
-The (Stamford, CT) Advocate
"Debuting earlier this month, priceline.com may very well revolutionize
the way Americans buy their airline tickets."
-Arthur Frommer's Outspoken Encyclopedia of
Travel
"Priceline.com exploded onto the scene early last month . . . You tell
Priceline your proposed route, the dates of round-trip travel, and the
price you're willing to pay, and Priceline either accepts it quickly or
turns it down."
-Philadelphia Inquirer
"Imagine walking up to an airline counter, flashing a wad of bills and
offering $300 for a ticket to Florida when the lowest fare is $400. The
ticket agent would probably call security. Yet that, in essence, is what
consumers will be able to do with an Internet service (priceline)
scheduled to be introduced on Monday."
-The New York Times
"A new Web-based company promises to revolutionize the way flexible
vacationers buy airline tickets - by letting them set the price they're
willing to pay."
-USA Today
"It may sound like a bargain hunter's fantasy, but Monday a new Web
site will allow travelers to ask airlines to sell unsold seats on the
cheap."
-The Wall Street Journal
"A just-launched Web site is turning the tables on traditional airline
pricing by letting flexible fliers determine what they're willing to pay
for a ticket."
-Los Angeles Times
"Priceline.com is not only a great idea: It is a harbinger of things to
come."
-Boston Globe
"Some travel experts see priceline.com as a revolutionary mode of
buying airline tickets. 'It's a fantastic idea,' said Terry Trippler,
editor and publisher of the Air Fare Report. 'For airlines, the worst
thing is an empty seat.'"
-The Bergen Record
"Do you ever wonder why a full flight sometimes has empty seats?
Priceline.com offers those seats to consumers at prices they name."
-PC Magazine
"A Connecticut entrepreneur plans to launch an Internet commerce system
next week that he hopes will revolutionize the way people shop for airline
tickets, and eventually other products. Priceline.com is the first service
that allows consumers to name the price they are willing to pay for
airline tickets."
-Reuters
"A new Web site will appear on the Internet that may revolutionize
the way in which Americans purchase their air tickets for vacation
purposes...And it may well be - we're not guaranteeing it, but we're
confident - that you'll soon be able to buy airline seats up until just a
short time in advance of departure, at low price levels that were earlier
available only 14 or 21 days in advance. If that happens travelers will
rejoice."
-Arthur Frommer's Budget
Travel
"Priceline.com has devised a way for both airlines and consumers to
benefit from the nearly 600,000 plane seats that go empty each day: sell
those tickets to leisure travelers and let them name their price."
"At the company's Web site, you simply provide your itinerary, the
price you're willing to pay, and your credit card number. If an airline
accepts, priceline.com will get back to you within an hour with a
non-refundable ticket."
-Wired magazine
"It holds the potential of a win-win situation that could only,
practically, be intermediated by the Web... priceline.com is an excellent
example of how new forms of intermediation which specifically leverage the
capabilities of a global communications network may thrive."
-The Rapidly Changing Face of
Computing
"Priceline.com is entering two of the most fiercely competitive
markets-travel and car shopping. However, the fact that the company is
devoting $20 million to back its launch indicates that priceline is not
content with leftover crumbs from established industry players."
-Electronic Advertising & Marketing
Report
"These companies really, really 'get it' and are becoming dominant
players in their spaces - some will become category killers. Examples
include Amazon.com, artuframe.com, OnSale, eMarketlive.com, and Priceline.
Their model combines intensely competitive pricing with wide breadth of
selection - and often adds interaction and community building."
--Z Commerce
"Consumers like car buying as much as they like having cavities
drilled, so they will flock to a service that reduces the odds of being
manipulated by salespeople."
--The Forrester Brief
"'Priceline.com is radically different from Auto-by-Tel and Microsoft
CarPoint,' said Gary Arlen, president of Arlen Communications Inc., a
Bethesda, MD research firm specializing in electronic media. 'Priceline
turns the car buying service upside down. It takes advantage of the Web's
capabilities by letting the buyer name the price and inviting the dealer
to take it or leave it.'"
--internet news.com
"First you could but a car without haggling, thanks to Saturn. Then you
could buy a car without leaving you house, via the Internet. Now, a new
Internet company (priceline.com) is offering consumers the chance to buy a
new car from home and promising no hassles about price."
--The Hartford Courant
"Name the model and price of the new car or truck and let the Internet
take care of the dreaded price-haggling process. Priceline.com LLC's
newest service does just that. The company that brought you
'name-your-own-price' airline tickets now takes the price a car buyer has
named and searches for dealers willing to sell the vehicle for that figure
or to present a counteroffer."
--Computerworld
"Priceline.com created a stir with the success of its
name-your-own-price online purchase of airline tickets. Now, it helps
customers in New York City, and soon the whole US, buy a new car or truck
at the price of their choice. The service claims it never gives your name
or phone number to a car salesman. Aversion to car dealers is so
widespread - and our fingers are crossed so tightly - it seems likely that
this venture will succeed."
--Netsurfer Digest
"Welcome to the brave new world of ecommerce. News of Priceline.com's
success is encouraging the relentless entrepeneurs out there to explore
the Web's potential as never before."
--AltaVista MarketSpace
"In the world of patents, Priceline.com LLC, of Stamford, CT seems to
have scored a home run."
--Inter@ctive Week Online
"Most people have relatively few choices when they want to buy an
expensive airline ticket, a car, or a refrigerator. They can go to a
number of nearby stores, compare prices, and decide what to buy.
Now they have the option of choosing a price and giving countless
vendors the chance to bid. For better or worse, this could transform the
way we think of shopping, as well as the way in which we do it.
Conceivably, it could alter the nature and balance of power between
vendors and consumers, and restructure long-standing capitalistic business
and sales traditions. This new business model appears to have the
potential to give enormous new powers to people who want to buy things,
since their price is being offered to many thousands, even millions, of
possible sellers."
--HotWired
"'It is pretty unique. They have been compared to auctions but their
model is different. No one has previously - or since they launched -
developed anything quite like what they do.'"
--The Stamford Advocate
"Julia Pickar, an analyst with Zona Research, applauded the company's
patent strategy. 'Getting a patent for this technology is good news for
[Priceline.com],' she said. 'They built a proprietary technology, and
they're betting a lot on it.'"
--CNET NEWS.COM
"A small start-up company in Connecticut has been awarded a broad
patent that appears to protect not just the virtual nuts and bolts of its
electronic commerce system, but also its entire business model for buying
and selling goods and services on the Internet.
The company, Priceline.com LLC of Stamford, best known for allowing
consumers to 'name your own price' for airline tickets, said it would be
issued United States patent No. 5,794,207 tomorrow for both the method and
the use of 'buyer-driven commerce' from the Patent and Trademark Office
that it had invented a new way of doing business, one that was
fundamentally different from any other form of electronic commerce today."
--The New York Times
"In business-to-consumer commerce, one of the most radical
rules-changers is priceline.com, which has sold more than 50,000 airline
tickets over the Internet since April. Priceline.com lets customers post
prices they want to pay for trips, and the fist airline to accept that
offer gets the business."
--Information Week
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All material herein © 1998-2008 priceline.com Incorporated, all rights reserved.
PRICELINE, PRICELINE.COM and NAME YOUR OWN PRICE are
registered service marks of priceline.com Incorporated.
U.S. Patents 5,794,207; 5,897,620; 6,085,169; 6,510,418 and 6,553,346.
(CST 2040530-50)
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