Tuesday, March 12, 2013

GOOG: Priceline's (PCLN -1.1%) online ad spend has...

2:41 PM Priceline's (PCLN -1.1%) online ad spend has more than tripled over the last 3 years to $1.27B (25% of revenue), as the company fights harder than ever with Expedia (EXPE -0.3%) to grab hotel bookings. RBC's Mark Mahaney (he of Facebook fame) thinks $1.14B of that total went to Google (GOOG), single-handedly accounting for 2.6% of the search giant's ad sales. Priceline's online ad spend rose 41% Y/Y in Q4, but there was a payoff. Expedia, which doesn't break out online ad spend, has seen its total ad budget rise 40% in the last 3 years to $870M (22% of revenue). Read comments

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