America Online and Kayak Software Corp. Announce Multiyear Travel Search Agreement; Kayak.com Search Engine to Power New Web-based Comparison Travel Search for AOL.DULLES, Va. & NORWALK, Conn. -- America Online See AOL. , Inc., the world's leading interactive services company, and Kayak Software Corporation, created by the founders of Orbitz, Expedia and Travelocity, today announced a multiyear marketing and technology agreement in which AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. will make a minority investment in Kayak. The two companies will join forces to create a web-based travel search property, which will be powered by Kayak's travel search engine, and will complement AOL's existing offerings. The announcement comes as the online travel marketplace is experiencing tremendous growth. Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. PhoCusWright, a vast majority of these purchases will be made with the help of searches, with online consumers shopping an average of 3.6 sites before buying an airline ticket. "Kayak represents state of the art search technology in travel and we are committed to providing the most comprehensive results possible as we expand the breadth of our travel offerings," said David Lebow, Executive Vice President and General Manager, AOL Media Networks. "Travel is a sizable and growing area and a primary category of focus for AOL Media Networks, especially as we build out our suite of travel products both on the AOL service and the Web." Steve Hafner, Kayak's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder said, "We are thrilled to be working with AOL to help consumers make the most informed decisions in their travel planning. Both Kayak.com and AOL's products and services are invaluable resources for helping users navigate and manage the wealth of information on the Web. We look forward to a long and successful partnership." About America Online, Inc. America Online, Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Time Warner Inc. Based in Dulles, Virginia Dulles, Virginia is an unincorporated census-designated place located in Loudoun County, Virginia, part of the Washington Metropolitan Area. The headquarters of AOL, Orbital Sciences Corporation and ODIN technologies and the former headquarters of MCI Inc. are located in Dulles. , America Online is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services. About Kayak.com Created by the founders of Orbitz, Travelocity and Expedia, Kayak is dedicated to helping consumers make informed decisions in their travel planning. Kayak.com is the only travel search engine that offers comprehensive fares and rates from over 60 online sites in just one click, as well as user-generated content and relevant information. For additional background, please visit www.kayak.com. |
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