| Business Summary | | priceline.com
Incorporated
has
pioneered
an
e-commerce
pricing
system,
known
as
a
demand
collection
system,
which
enables
consumers
to
use
the
Internet
to
save
money
on
a
range
of
products
and
services,
while
enabling
sellers
to
generate
incremental
revenue.
Using
its
consumer
proposition,
"Name
Your
Own
Price,"
the
Company
collects
consumer
demand,
in
the
form
of
individual
customer
offers,
for
a
particular
product
or
service
at
a
price
set
by
the
customer.
The
Company,
incorporated
in
1997,
then
either
communicates
that
demand
directly
to
participating
sellers
or
accesses
a
proprietary
database
of
inventory
available
to
the
Company
for
purchase
and,
based
upon
the
customer's
offer
price,
elects
whether
or
not
to
accept
that
customer's
offer.
Consumers
agree
to
hold
their
offers
open
for
a
specified
period
of
time
and,
once
fulfilled,
offers
generally
cannot
be
canceled. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | priceline.com
has
developed
a
new
type
of
e-commerce
where
customers
enter
prices
they're
willing
to
pay
for
products
or
services
and
then
the
Company
contacts
sellers
to
determine
whether
they
can
fulfill
the
customer's
offer.
For
the
six
months
ended
6/30/01,
revenues
fell
5%
to
$634.5
million.
Net
loss
applicable
to
Common
decreased
57%
to
$11
million.
Results
reflect
a
difficult
airline
travel
market,
offset
by
reduced
personnel
and
marketing
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Richard Braddock, 59 Chairman,
CEO | $1.7M | $9.8M | Jeffrey Boyd, 44 Pres,
COO | 5.8M | -- | Robert Mylod, 34 CFO | -- | -- | Trey Urbahn, 43 Pres
of Airlines of priceline.com | 978K | 12.6M | W. Michael McCadden, 42 Exec.
VP and CMO | 4.1M | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|