Priceline.com stock zooms in offering
Article Abstract:
In its initial public offering, online auctioneer Priceline.com's stock price opened at $16 per share, rose to a high of $85 and then stabilized at $69. As a result, the company's market value is more than $9.8 billion, the record for a first day issue by an Internet company. Priceline lost $114 million on $35 million in sales of air tickets last year. Analysts like its 'demand collection system' in which customers name the price they are willing to pay for a trip. Airline companies, afraid of undercutting their own prices, have been slow to market tickets through the service.America West and Trans World Airlines were the only companies willing to join at first. Delta Air Lines made a deal for for warrants to purchase 18.9 million shares of Priceline stock before it would participate. At yesterday's prices, the stake is worth $1.3 billion. Priceline expects to make up it's losses through offering other products and services.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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In bots we trust? Online shopping guides hunt for bargains, but only the bargains they want you to see
Article Abstract:
Comparison shopping services search across the Web and return a list of products, sources and prices to the user. Some online retailers pay the shopping services to have there product appear at the top of the list. Services include www.mysimon.com, www.dealtime.com, shopper.cnet.com, www.dealpilot.com, www.amazon.com., www.frictionless.com, www.buy.com, and www.clickthebutton.com.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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