priceline.com - Computer Definition
(priceline.com Incorporated, Norwalk, CT, www.priceline.com) A Web-based travel shopping site launched in 1998 where buyers submit the price they are willing to pay for airline tickets, hotel rooms, vacation packages and rental cars. If a vendor in the system agrees to the price, the transaction is consummated and priceline.com receives a commission. Priceline's second key business offers competitively-bid home mortgages and loans through a licensed third-party financial service. In its early days, the company tried its hand at selling car and life insurance, cellular phones and everyday groceries, but those services never saw the success of its core travel and tourism niche. See online auction.