Priceline.com () is a website devoted to helping users obtain discount rates for travel-related items such as airline tickets and hotel stays. It is headquartered in Norwalk, Connecticut, United States. Priceline is the brainchild of digital entrepreneur Jay Walker, thus its parent company is Walker Digital.
It first gained prominence for its Name Your Own Price system, where travelers would name their price for airline tickets, hotel rooms, and car rentals. The price would be compared to undisclosed prices in the Priceline database, with the purchaser knowing the location and name of the rental car company, airline, or hotel only after the purchase had gone through, with no rights to cancel. Priceline's cut of the proceeds was the difference between the price an individual named and the price charged by the service establishment. More recently, it has moved to a more traditional model where travelers are presented prices while not being told the name of the establishment. Travelers can still chose to name their price but the number of participants in that program has significantly diminished.
Priceline.com also experimented with selling gasoline and groceries under the Name Your Own Price model in 2000, at the height of the dot-com bubble, through a partially owned affiliate, WebHouse Club. Priceline also got into the online auction business with Priceline Yard Sales, where individuals would use the Priceline system to haggle for various second hand items and trade them in person. Priceline also sold long distance telephone service and automobiles under the Name Your Own Price model. All of these experiments were terminated in 2002. Another experiment, the Name Your Own Rate system for home loans, continues under a license with EverBank.
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Truth about Priceline.com, The - A traveler's account of how Priceline.com charged their credit card for unusable tickets.
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