SM: When did you launch the service? SH: It was October 2004. SM: Can you give us an idea as to what kind of ramp you saw in terms of traffic building and adoption? The vertical search concept was still new in 2004. SH: There had been folks who tried to do it in the
SM: What gave you the idea for Kayak? SH: Orbitz was a great company, but it never fulfilled on its original mission which was to help consumers find great airline and hotel deals. The reason it did not fulfill it’s original mission is because we could not convince every airline, hotel, and rental car company
For years, I had been disturbed by the demolition of architectural heritage in India in the name of development. [If you haven’t already, please read my very personal account, As India Builds.]
I have written endlessly about the verticalization of the web, and the rise of vertical search engines, vertical ad networks, and the threat they pose to Google. I have also featured Kayak in the Deal Radar series earlier, and here, I speak with their CEO for a comprehensive discussion on Kayak’s strategy.
SM: What has been your financing strategy? CR: One skill set I brought was fundraising experience. We did your typical small seed round, primarily led by the principles who put money down to build the first prototype. The first real round was led by Redpoint.
SM: When did you make the decision to go to India? CR: A little over a year ago we had an investor say “it is time to go to India now”. I went over to India and it was clear the opportunity was there. By the time my trip was over I hired a head
SM: Do you maintain relationships with multiple banks or a single bank? CR: We have relationships with multiple banks which is similar to how PayPal uses two banks. They use Chase and Wells Fargo. Historically companies buy wholesale services from different providers and, depending on their capabilities, buyers can be selective where they go for
SM: Can you deposit into the cell phone account? CR: You can’t do that and nobody has asked us for that. Behind the scenes the money is always in a bank. When I send you money you as the user have to make a decision. Do you want to keep the money on the phone