Welcome!

Wearables Authors: Liz McMillan, XebiaLabs Blog, Pat Romanski, Elizabeth White, Progress Blog

News Feed Item

Room 77(R) Closes $30 Million Round to Accelerate Hotel Metasearch Platform

Expedia, Inc. Joins Existing Investors in Latest Round to Help Room 77 Expand Globally Following Transformative Year of Significant Growth Helping Travelers Uncover Hotel Savings

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).

In addition to Room77.com, travelers can shop for hotels using the Room 77 hotel app for iPhone®, available in the App Store, and on Android™ in Google Play.

(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

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Recently, IoT seems emerging as a solution vehicle for data analytics on real-world scenarios from setting a room temperature setting to predicting a component failure of an aircraft. Compared with developing an application or deploying a cloud service, is an IoT solution unique? If so, how? How does a typical IoT solution architecture consist? And what are the essential components and how are they relevant to each other? How does the security play out? What are the best practices in formulating...
SYS-CON Events announced today that Elastifile will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Elastifile Cloud File System (ECFS) is software-defined data infrastructure designed for seamless and efficient management of dynamic workloads across heterogeneous environments. Elastifile provides the architecture needed to optimize your hybrid cloud environment, by facilitating efficient...
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
An increasing number of companies are creating products that combine data with analytical capabilities. Running interactive queries on Big Data requires complex architectures to store and query data effectively, typically involving data streams, an choosing efficient file format/database and multiple independent systems that are tied together through custom-engineered pipelines. In his session at @BigDataExpo at @ThingsExpo, Tomer Levi, a senior software engineer at Intel’s Advanced Analytics ...
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
There is only one world-class Cloud event on earth, and that is Cloud Expo – which returns to Silicon Valley for the 21st Cloud Expo at the Santa Clara Convention Center, October 31 - November 2, 2017. Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers. Companies are each developing their unique mix of cloud technologies and service...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a...
SYS-CON Events announced today that Secure Channels, a cybersecurity firm, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Secure Channels, Inc. offers several products and solutions to its many clients, helping them protect critical data from being compromised and access to computer networks from the unauthorized. The company develops comprehensive data encryption security strategie...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
Consumers increasingly expect their electronic "things" to be connected to smart phones, tablets and the Internet. When that thing happens to be a medical device, the risks and benefits of connectivity must be carefully weighed. Once the decision is made that connecting the device is beneficial, medical device manufacturers must design their products to maintain patient safety and prevent compromised personal health information in the face of cybersecurity threats. In his session at @ThingsExpo...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.