|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
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Oct. 26, 2016 01:15 AM EDT Reads: 3,093
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 26, 2016 12:00 AM EDT Reads: 1,040
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Oct. 26, 2016 12:00 AM EDT Reads: 3,859
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 26, 2016 12:00 AM EDT Reads: 3,188
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 26, 2016 12:00 AM EDT Reads: 34,220
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Oct. 25, 2016 11:45 PM EDT Reads: 2,991
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 25, 2016 10:45 PM EDT Reads: 987
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 25, 2016 08:45 PM EDT Reads: 2,714
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 25, 2016 08:45 PM EDT Reads: 3,244
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 25, 2016 08:30 PM EDT Reads: 1,106
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Oct. 25, 2016 08:15 PM EDT Reads: 1,378
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 25, 2016 07:30 PM EDT Reads: 1,544
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Oct. 25, 2016 07:30 PM EDT Reads: 1,121
OnProcess Technology has announced it will be a featured speaker at @ThingsExpo, taking place November 1 - 3, 2016, in Santa Clara, California. Dan Gettens, OnProcess’ Chief Analytics Officer, will discuss how Internet of Things (IoT) data can be leveraged to predict product failures, improve uptime and slash costly inventory stock. @ThingsExpo is an annual gathering of IoT and cloud developers, practitioners and thought-leaders who exchange ideas and insights on topics ranging from Big Data in...
Oct. 25, 2016 07:15 PM EDT Reads: 324
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Oct. 25, 2016 06:45 PM EDT Reads: 1,247
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 25, 2016 06:45 PM EDT Reads: 1,445
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Oct. 25, 2016 06:15 PM EDT Reads: 2,145
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 25, 2016 05:45 PM EDT Reads: 1,459
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 25, 2016 05:15 PM EDT Reads: 1,620
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Oct. 25, 2016 04:45 PM EDT Reads: 1,555