The Priceline Group
|Headquarters||Norwalk, Connecticut, United States|
Jeffery H. Boyd|
(Chairman and Interim CEO)
|Revenue||US$10.64 billion (expected 2016 sales)|
|US$ 3.26 billion (2015)|
|US$ 2.55 billion (2015)|
|Total assets||US$ 17.42 billion (2015)|
|Total equity||US$ 8.8 billion (2015)|
Number of employees
The Priceline Group is an American-based provider of travel and related online services to consumers and local partners through six primary brands: Booking.com, priceline.com, agoda.com, KAYAK, Rentalcars.com and OpenTable. Collectively The Priceline Group operates in over 200 countries and territories in over 40 languages. It made 86% of its bookings outside the United States in 2015 and is the biggest online travel agency worldwide.
Formerly known as Priceline.com LLC, the company was officially renamed in April 2014 to reflect its evolution to a company with multiple independently-operated brands. Booking.com is the company's "main platform".
In 2014, Darren Huston was named Chief Executive Officer of The Priceline Group, a role previously held by Jeff Boyd. On April 28, 2016, Huston was forced to resign following an extramarital affair. Boyd was named the Interim CEO.
In 1997, priceline.com, an online travel site, launched using its signature Name Your Own Price bidding model. In 1999, The Priceline Group underwent its initial public offering and reached $12.9 billion in market value on the first day, the highest first day value for a corporation at the time. This same year, the company also experimented with selling other products and services such as groceries, gasoline, home mortgages, cars, and more through its Name Your Own Price service. This offering was later discontinued in 2000.
In 2004, priceline.com entered the hotel retail space by acquiring a major stake in Travelweb, as well as Active Hotels. In 2005, The Priceline Group purchased Booking.com and merged it with Active Hotels.
In 2010, The Priceline Group acquired TravelJigsaw, a multinational rental car service which is known today as rentalcars.com. KAYAK, the travel metasearch engine company, was acquired by The Priceline Group in 2013.
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