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priceline.com

(priceline.com Incorporated, Norwalk, CT, www.priceline.com) A Web-based travel shopping site launched in 1998 where buyers submit the price they are willing to pay for airline tickets, hotel rooms, vacation packages and rental cars. If a vendor in the system agrees to the price, the transaction is consummated and priceline.com receives a commission.

Priceline's second key business offers competitively-bid home mortgages and loans through a licensed third-party financial service. In its early days, the company tried its hand at selling car and life insurance, cellular phones and everyday groceries, but those services never saw the success of its core travel and tourism niche. See online auction.



online auction

Using the Web to match buyers and sellers around the globe. eBay pioneered the online auction in 1995, and others quickly followed. Priceline added a variation by asking buyers to name the price they want to pay and see if a seller will match it. See 0FB, eBay, priceline.com, sniping software and bid shielding.



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