Site59.com
Encyclopedia
Boston Consulting Group
The Boston Consulting Group is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortunes "Best Companies to Work For" report for...
(BCG), and was further developed and backed by iFormation Group, a partnership between BCG, Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
and General Atlantic Partners.
Named for the 59th minute, Site59 assembled inventory in real time from thousands of industry suppliers, including major airlines, hotel companies, car rental companies and hundreds of specialty providers worldwide. In addition to its own web site, Site59 operated a private label distribution (ASP) product, powering last-minute sections of Travelocity
Travelocity
Travelocity is an online travel agency and wholly owned subsidiary of Sabre Holdings Corporation, which was a publicly traded company until taken private by Silver Lake Partners and Texas Pacific Group in March 2007...
, AOL
AOL
AOL Inc. is an American global Internet services and media company. AOL is headquartered at 770 Broadway in New York. Founded in 1983 as Control Video Corporation, it has franchised its services to companies in several nations around the world or set up international versions of its services...
Travel, CheapTickets
CheapTickets
CheapTickets is an online travel services company focusing on the leisure market, offering airline tickets, hotel and Vacation rentals, rental cars, customized vacation packages, and cruises...
, Yahoo!
Yahoo!
Yahoo! Inc. is an American multinational internet corporation headquartered in Sunnyvale, California, United States. The company is perhaps best known for its web portal, search engine , Yahoo! Directory, Yahoo! Mail, Yahoo! News, Yahoo! Groups, Yahoo! Answers, advertising, online mapping ,...
Travel, American Airlines
American Airlines
American Airlines, Inc. is the world's fourth-largest airline in passenger miles transported and operating revenues. American Airlines is a subsidiary of the AMR Corporation and is headquartered in Fort Worth, Texas adjacent to its largest hub at Dallas/Fort Worth International Airport...
Vacations, Delta Air Lines
Delta Air Lines
Delta Air Lines, Inc. is a major airline based in the United States and headquartered in Atlanta, Georgia. The airline operates an extensive domestic and international network serving all continents except Antarctica. Delta and its subsidiaries operate over 4,000 flights every day...
Vacations, Continental Airlines
Continental Airlines
Continental Airlines was a major American airline now merged with United Airlines. On May 3, 2010, Continental Airlines, Inc. and UAL, Inc. announced a merger via a stock swap, and on October 1, 2010, the merger closed and UAL changed its name to United Continental Holdings, Inc...
Vacations, Northwest
Northwest Airlines
Northwest Airlines, Inc. was a major United States airline founded in 1926 and absorbed into Delta Air Lines by a merger approved on October 29, 2008, making Delta the largest airline in the world...
's nwa.com, and Bestfares.com, among others.
In March 2002, Travelocity
Travelocity
Travelocity is an online travel agency and wholly owned subsidiary of Sabre Holdings Corporation, which was a publicly traded company until taken private by Silver Lake Partners and Texas Pacific Group in March 2007...
acquired Site59 for $43 million in cash. Site59’s CEO and founder, Michelle Peluso joined Travelocity with the acquisition as senior vice president, product strategy and distribution. Peluso became Travelocity’s COO in April 2003 and was then named president and chief executive officer of Travelocity in December 2003.
As of early 2005, many members of Peluso’s former management team at Site59 now hold senior management positions at Travelocity, namely Jeffrey Glueck (Chief Marketing Officer
Chief marketing officer
Chief Marketing Officer is a corporate title referring to an executive responsible for various marketing activities in an organization...
), Damon Tassone (Deputy CEO, lastminute.com), Tracey Weber (Chief Operating Officer, Travelocity North America), Richard Harris (Senior Vice President, Strategy and Business Development), Josh Feuerstein (Senior Vice President and Hotel Segment Manager), Josh Hartmann (Vice President, Software Development
Software development
Software development is the development of a software product...
) and Jonathan Perkel (Vice President & Deputy General Counsel).
Site59 ceased operations and now directs to lastminute.com
Lastminute.com
lastminute.com is an online travel and leisure retailer. The company was founded by Martha Lane Fox and Brent Hoberman in 1998 and became an icon of the UK internet boom of the late 1990s, floating at the peak of the dot com bubble and trading on the London Stock Exchange under the symbol...
.