What Happened to Priceline in the Dot-com Crash?

Glenn Fogel says Priceline reached a market cap of over $30 billion in the week it went public in 1999, on a very small amount of revenue, then fell to a few hundred million by the end of the year he joined, a drop he calls a 99% decline. Even his mother thought the company had gone bankrupt. He joined in the last week of February 2000, a week before the Nasdaq peaked, after leaving a trading job he hated in the late 90s. He says that timing proved he should not have been a trader, because he had just top-ticked the internet trade. By the time he arrived, the value had already dropped about $15 billion.

In 2001 the team started climbing after figuring out a few things to do right. Then 9/11 hit and travel fell again. They kept at it. Twenty-seven years into the company, he says, they are doing okay. Priceline was the acquirer, not the company that got acquired.