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Priceline announced in May 2015 that it would invest an additional $250 million in Chinese online travel company Ctrip to tap the fast-growing China market. [12] Priceline officially ended its Name Your Own Price deals for flight bookings in 2016, [13] rental cars in 2018 [14] and hotels in 2020. [15]
Priceline.com logo Jay Walker, founder of Priceline.com, shows one of the many artifacts from his library… an Apollo in-flight instruction manual. Priceline.com, an online travel agency offered a name your own price option. However, by 2005, Priceline began to de-emphasize this system, [10] and added published price options on its websites. [9]
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In 1996, Jay S. Walker founded the company in Stamford, Connecticut, which launched Priceline.com, an online travel site, that used a Name Your Own Price bidding model. [4] In 1999, the company became a public company via an initial public offering, making Walker, who owned a 35% stake in the company, a multi-billionaire. [5] [4]
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On May 21, 2013, Booking Holdings, then known as Priceline.com, acquired the company for $2.1 billion. [17] In September 2013, Kayak announced an office move to the Harbor Point district of Stamford, aided by a $2.5 million loan from the state of Connecticut. [18] In 2017, the company acquired Mundi, a Brazilian flight metasearch company. [19]