|By Marketwired .||
|January 3, 2013 03:00 PM EST||
MOUNTAIN VIEW, CA -- (Marketwire) -- 01/03/13 -- Hotel metasearch engine Room 77 today announced it has closed $30.3 million in Series C financing with participation from new investor Expedia, Inc. (NASDAQ: EXPE). The company's existing investors also participated, including Sutter Hill Ventures, General Catalyst Partners, Concur Technologies, Felicis Ventures as well as Expedia's founder Rich Barton, former Expedia CEO Erik Blachford and Spencer Rascoff, CEO of Zillow. This brings Room 77's total capital raised to $43.8 million.
Room 77 is pioneering a better way for travelers to shop for hotels, instantly searching hundreds of travel sites at once to find the best hotel at the best price. Since launching its hotel metasearch platform just a year ago, Room 77 bookings and revenue have accelerated dramatically. In the past nine months alone, the company has driven hundreds of thousands of room nights through its marketplace, recording significant month-over-month growth.
By combining fast and comprehensive search technology with unprecedented service, Room 77 is proving it helps users save time and money -- and score a great room. Based on internal analysis of more than five million hotel searches, Room 77 uncovered at least one lower price for travelers in two out of three searches, averaging $72 per stay. And, only Room 77 offers free Room Concierge service, which leverages the company's proprietary room data, such as blueprints and simulated RoomView(SM) technology, to help travelers get in a great room when they book through Room 77. The company's consistently high savings and service levels garner high marks from customers, contributing to a repeat booking rate of more than 50 percent.
"We believe metasearch is an increasingly important model and complementary to our travel transaction businesses," said Dara Khosrowshahi, Expedia, Inc. President and Chief Executive Officer. "The level of innovation and depth of content at Room 77 excites us about its future role in this important customer acquisition channel."
"Room 77 is obsessed with helping travelers uncover the best hotel deal anywhere in one fast and easy search," said Kevin Fliess, chief operating officer of Room 77, Inc. "Our investors recognize the inherent value of metasearch and the importance of rapid innovation in this category, and we're delighted to welcome Expedia, Inc. to this esteemed group. As recent events in this category demonstrate, hotel metasearch represents a massive market and huge global opportunity. This round will only help Room 77 grow our marketplace to help travelers around the world find great hotel deals which, in turn, drive incremental business and revenue to our hotel and travel agency partners."
Room 77 expects to use the additional capital to grow its team with top talent; expand into new markets; increase investment in product; engineering and room-level content; and step up its marketing efforts to build a world-class brand.
Simultaneous with the closing of this round, Jim White, managing director of Sutter Hill Ventures, has joined the Room 77 board of directors. Additional financial details regarding the round were not disclosed.
The hotel vertical represents the largest and most profitable category in online travel, accounting for approximately two billion room nights and more than $165 billion in gross bookings annually(1).
(1) Based on Company and third-party estimates
About Room 77
Room 77 is a growing hotel metasearch engine where travelers can instantly shop hundreds of travel sites at once to find great hotel deals. By combining fast and comprehensive search technology with unprecedented service, Room 77 is proving it helps users save time and money -- and score a great room. Two out of three searches on Room 77 uncover real hotel savings, averaging $72 per stay -- this translates to more than $7 million in found savings for Room 77 customers. And, only Room 77 offers free Room Concierge service, which leverages Room 77's proprietary room data and insights to get travelers in a room that meets their needs. The appreciation customers have for Room 77 shines through in its high Reseller Rating of 9.38. Based in the Silicon Valley, Room 77 launched out of beta in 2012, and has raised $43.8 million. For more information, visit www.room77.com.
Room 77 is a registered trademark of Room 77, Inc.
iPhone is a registered trademark of Apple, Inc. Android is a trademark of Google, Inc.
About Expedia, Inc.
Expedia,Inc. is the largest online travel company in the world, with an extensive brand portfolio that includes some of the world's leading online travel brands, including:
- Expedia.com®, the world's largest full service online travel agency, with localized sites in 30 countries
- Hotels.com®, the hotel specialist with sites in more than 60 countries
- Hotwire®, a leading discount travel site that offers opaque deals in nine countries on its eight sites in North America and Europe
- Egencia®, the world's fifth largest corporate travel management company
- eLong, the second largest online travel company in China
- Venere.com®, the online hotel reservation specialist in Europe
- Expedia Local Expert®, a provider of in-market concierge services, activities and experiences in 18 markets worldwide
- Classic Vacations®, a top luxury travel specialist
The company delivers consumers value in leisure and business travel, drives incremental demand and direct bookings to travel suppliers, and provides advertisers the opportunity to reach a highly valuable audience of in-market travel consumers through Expedia® Media Solutions. Expedia also powers bookings for some of the world's leading airlines and hotels, top consumer brands, high traffic websites, and thousands of active affiliates through Expedia® Affiliate Network. For corporate and industry news and views, visit us at www.expediainc.com or follow us on Twitter @expediainc.
Trademarks and logos are the property of their respective owners. © 2012 Expedia, Inc. All rights reserved. CST: 2029030-50
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2192955
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
May. 2, 2016 06:30 AM EDT Reads: 2,508
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 2, 2016 06:00 AM EDT Reads: 1,269
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
May. 1, 2016 11:00 PM EDT Reads: 1,593
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 1, 2016 07:00 PM EDT Reads: 764
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 1, 2016 06:00 PM EDT Reads: 1,169
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 1, 2016 05:00 PM EDT Reads: 1,035
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 1, 2016 04:00 PM EDT Reads: 957
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
May. 1, 2016 01:30 PM EDT Reads: 822
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
May. 1, 2016 01:30 PM EDT Reads: 1,582
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
May. 1, 2016 01:00 PM EDT Reads: 1,754
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 1, 2016 12:45 PM EDT Reads: 835
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
May. 1, 2016 12:15 PM EDT Reads: 2,333
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 1, 2016 11:45 AM EDT Reads: 1,500
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 1, 2016 11:00 AM EDT Reads: 1,097
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 1, 2016 09:45 AM EDT Reads: 1,039
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 1, 2016 09:45 AM EDT Reads: 932
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 1, 2016 07:30 AM EDT Reads: 1,003
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 1, 2016 07:00 AM EDT Reads: 884
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 30, 2016 04:15 PM EDT Reads: 1,710
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 30, 2016 02:30 PM EDT Reads: 1,741