When Priceline launched in April 1998, the concept appeared at once ludicrous and intriguing
When Priceline launched in April 1998, the concept appeared at once ludicrous and intriguing. The company invited visitors to its website to bid the price they wanted for airline tickets. The customers got cheap seats, the airlines flew full, Priceline took its commission and everyone was happy.
With US airlines flying with 500 000 empty seats every day, Walker thought it was a sure thing. He was wrong. His lack of reputation in the notoriously closed world of the airlines and a booming economy prompted a cool response from the industry:
'They just would not buy Priceline as a solution. But they get a lot of people coming to them ...