Microsoft buys travel site
2008-04-18 07:27
Seattle - Microsoft Corp said on Thursday it acquired travel-search startup Farecast Inc for an undisclosed amount.
The Seattle startup tries to predict whether air fares will rise or fall, helping travellers decide when to buy plane tickets for upcoming trips.
Farecast's site also has a section that searches for hotel room rates, then tells web surfers whether the price is a good deal, or no deal at all.
In a precursor to the buyout, the companies signed a deal last year that made some of Farecast's technology available on Microsoft's own MSN travel site.
The acquisition closed on April 9. Microsoft spokesperson Whitney Burk said Farecast's workers will become Microsoft employees, but would not give further details about how the startup and its technology will fit into Microsoft's existing organisation.
Farecast, formerly known as Hamlet Inc, has raised more than $20m in venture capital since 2004 from investors including Sutter Hill Ventures, Greylock Partners and Madrona Venture Group.
- Dow Jones