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From the WSJIE
Priceline.com, which filed IPO papers last week, has been touted as one of the most promising new offerings from an Internet-related company. Not only is the Stamford, Conn., concern engaged in electronic commerce -- the most popular of all Internet niches among investors -- but its backers include Microsoft Corp. co-founder Paul Allen. In addition, its management team is headed by Chief Executive Richard Braddock, a former president of Citicorp.
The company acts as sort of an online broker to determine demand for various services, including airline tickets and hotel reservations, and to establish prices based on that demand.
"It's got marquee names, lots of venture capital and an auction function, all of which could make it a real big deal," said Tom Taulli, research director for Silicon Investor, an online financial Web site.
Priceline.com's preliminary prospectus didn't include the number of shares to be sold or an estimated price range at which the shares are expected to sell. Morgan Stanley Dean Witter is lead underwriter.