Overview

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Status
Acquired by on April 9, 2008
Total Equity Funding
$20.6M in 3 Rounds from 6 Investors
Headquarters:
Seattle, Washington
Description:
Farecast is an online service that provides users with intelligent airfare predictions.
Founders:
,
Categories:
Tourism, Travel, Transportation
Website:
http://www.bing.com/travel
Social:

Company Details

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Founded:
2003
Employees:
2 in Crunchbase

Farecast offers a unique service by providing its users with intelligent airfare predictions. Founded in 2003, Farecast has since gained very healthy funding from several venture funds totaling $20.6 million. Unlike other travel companies, Farecast predicts when a user should buy a ticket based upon 175 billion points of previous airfare data. Its engine can currently predict whether airfare goes up or down up to a week into the future with a claimed success rate of 70-75%. While Farecast has a lot of competition, they claim it is the only company which can predict future prices.

The site has recently expanded to providing the best deals on hotel room as well. Results from travel search sites like ReserveTravel, Orbitz, and CheapTicket, are shown on a map with prices and other hotel information. Farecase gives deal finders an idea if a specific hotel is overpriced or a good deal by marking overpriced hotels blue and attractively-priced hotels red.

Funding Rounds (3) - $20.6M

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DateAmount / RoundValuationLead InvestorInvestors
Jan, 2007$12.1M / Series C6
Jul, 2005$7M / Series B3
Oct, 2004$1.5M / Series A2

Current Team (2)

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Board Members and Advisors (3)

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Products (2)

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  • Searching for flights on Farecast generates the lowest current prices followed by a recommendation to buy now or wait until prices drop.
  • The site helps deal finders see what hotels are overpriced and what hotels are good deals. For instance, sometimes name brand chains up

Competitors (10)

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  • Airfarewatchdog.com is a discount airfare compiler that uses live agents instead of automated web crawlers to find the best airfare deals.
  • Expedia is an online travel agency that provides hotel reservations, airline tickets, vacation packages, and more.
  • Hotwire.com is a travel site that offers low rates on airline tickets, hotel rooms, rental cars, cruises, and vacation packages.
  • KAYAK is a travel search engine, indexing hundreds of global travel sites to help users find the right flight, hotel, rental car, or more.
  • Mobissimo is a travel search engine that allows users to compare prices of airline tickets, hotel bookings, travel deals, and rental cars.
  • Orbitz Worldwide is an online travel company, using technology to transform the way consumers around the world plan and purchase travel.
  • SideStep is a travel search engine that generates revenue via advertising and referral fees.
  • TripHub is a service for planning group travel.

Offices/Locations (1)

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  • Office

    200 West Thomas Street, Suite 300

    Seattle, Washington 98119

    United States

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