Thursday, August 12, 2004

Major competitor for future.... SideStep

Sidestep.com
I have flagged this up before but will download it this time to see what it does & where it covers…http://www.sidestep.com/?redir=A

Title: Cheap Airfare, Travel Deals, Discount Hotels - SideStep "Find travel deals from dozens of sites � with one search!

Search dozens of sites at once to save on airfares, hotels and rental cars
Automatically compare prices side-by-side with sites like Expedia and Travelocity.
Discover deals from travel providers that other sites miss � like JetBlue.
Book your bargains directly with the airline, hotel or rental car companies, or with your favorite online agencies or consolidators"

History
SideStep was founded in November of 1999 with the aim of making travel search dramatically better for the average consumer. SideStep’s founding team worked for a full year to develop its sophisticated dynamic search technology. SideStep launched both the company and the service in November of 2000.

Since that time, SideStep has grown rapidly to emerge as one of the Web's most popular travel resources. Winner of the Forbes "Best of the Web" award, SideStep has been praised by The Los Angeles Times, The Wall Street Journal, the CBS Early Morning show and other major news outlets as a key source for travel bargains. More than six million people have downloaded the SideStep toolbar to help them in their hunt for flight, hotel and rental car values. In addition, the company has forged marketing partnerships with some of the most respected names in the travel sector, from travel suppliers like British Airways and Thrifty Car Rental to online agencies such as Orbitz.

Funding
SideStep has raised $17M in funding from Trident Capital and private investors. The company is privately held.

Headquarters
SideStep, Inc.
3131 Jay Street, Suite 210
Santa Clara, CA 95054
Phone: 408.235.1700
Fax: 408.235.1717
http://www.sidestep.com

http://sidestep.com/company/backgrounder.html
Heavyweight management team and advisory board..

SideStep has also begun to make its travel search capabilities available via the Web. Starting with hotel search (www.sidestephotels.com), the company recently added car search (www.sidestepcars.com) and will bring flight search to market in Q4. SideStep’s Web-based search offerings enable it to reach consumers unable to use the popular SideStep toolbar, such as those behind restrictive corporate firewalls

http://www.cio.com/archive/120101/successful.html
WEB STRATEGIES - Web Business 50 winners demonstrate that there's no substitute for practical business strategies - CIO Magazine Dec 1,2001: "The $15.4 billion online travel industry is crowded with well-known brands. To carve out a niche, Sidestep acts as an intermediary between consumers and travel-industry suppliers such as airlines, hotels and rental car companies. As a self-described purchase facilitator, the Santa Clara, Calif.-based company searches the websites of its suppliers, presents the options it finds in their entirety and takes the customer to the suppliers' websites for the purchase. That approach allows Sidestep to offer consumers a variety of travel options including specials that appear only on supplier websites and not on those of competitors such as Travelocity and Orbitz. It also relieves Sidestep of any fulfillment and customer service responsibilities.

Suppliers prefer Sidestep because fees are as much as 50 percent less than those charged by travel agents or other sites, according to Jung Shin, vice president of engineering and operations. And consumers like Sidestep because they know they won't get a cheaper quote at a supplier website. That combination has garnered the company more than 1 million users in the year it's been operating."

Trident Capital newsletter announcement re sidestep....
http://www.tridentcapital.com/Trident_SPRING_Newsletter_2004.pdf

Woody Marshall, Managing Director of , noted, “We’ve been scouting for the next big winner in online travel for some time now and believe that SideStep is it.The company has built a successful and scalable business based on a combination of outstanding technology and deep industry relationships. With a strong head start and additional capital to accelerate its growth, SideStep will quickly emerge as a formidable player in travel search.”

http://66.102.11.104/search?q=cache:EGnLnxEO9E8J:www.stockupticks.com/profiles/1-13-04.html+sidestep.com+individual+investors&hl=en
"SideStep: $15 Million in New Funding Goes to Private Online Travel Co.
SANTA CLARA, CA--(MARKET WIRE)--Jan 6, 2004 -- SideStep, Inc. (www.sidestep.com), the travel search engine, today announced that it has secured $8 million in financing from Trident Capital (www.tridentcap.com). SideStep, which has been profitable and cash flow positive since April of 2002, has raised a total of $15 million to date. The company will use the additional funding to accelerate product development and expand its strategic relationships.
SideStep is positioned at the intersection of two of the Internet's fastest growing market sectors: online travel and Web search. SideStep serves as a marketing vehicle for travel providers, driving consumers directly to the sites of trusted brands to book their travel. More than two million active travelers turn to SideStep's popular search engine each month to find flight, hotel and rental car values. "

Time: "SideStep offers airlines the prospect of removing an expensive link or two from the travel reservation chain--namely, the so-called global distribution systems, like Sabre, that complete about 75% of all travel bookings."

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