View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
August 27, 1998

PRICELINE.COM SECURES HIGH-PROFILE CHAIRMAN & CEO

By CBR Staff Writer

Internet air travel broker Priceline.com Inc has named a former president and chief operating officer of Citicorp as its new chairman and chief executive. Richard Braddock has been a board member of, and investor in, Stamford, Connecticut-based Priceline since its inception. Braddock, who was with Citicorp from 1973 through 1992, has most recently been a non-executive director of true North Communications Inc and will continue in that role in addition to his duties at Priceline. He is also on the boards of Cadbury Schweppes, E*Trade, and Eastman Kodak. Braddock assumes the role shortly after the company announced $20m second round funding and the awarding of a patent for its business model (08/17/98). Priceline.com employs a reverse auction process whereby users submit the price they want to pay for a certain flight, and then the web site tries to match it with offers from airline. Since its launch in April, the company claims to have sold more than 50,000 airline tickets. It has also introduced a similar system for selling cars. Company founder and inventor of the auction technology Jay Walker becomes vice- chairman and is said to have other things in the pipeline on which he wished to concentrate, without being more specific.

Content from our partners
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester
Infosecurity Europe 2024: Rethink the power of infosecurity

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU