Hoovers Profile:
priceline.com puts a new twist on e-commerce schemes by letting consumers name their own prices for a variety of products and services. The company sells airline tickets, hotel rooms, home mortgages, and new cars through its Web site; buyers choose the price they want to pay, but are not given choices such as departure times or brand names. priceline.com's patented reverse auction system then communicates bids to companies willing to sell excess inventory at below-retail prices. Founded in 1997, the company launched its service in April 1998 and subsequently sold more than 10,000 airline tickets in six weeks.
ipocentral.com
Web Site: priceline.com
Expected IPO date: Week of Feb. 22, '99
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