Andy Phillips – Priceline

where business leaders connect

Andy Phillips – Priceline, toptable, Active Hotels,Reevoo, Green Traveller, Albion Ventures, i2o water

8 December 2011 at Grange Hotel, Holborn, London

Entrepreneurs World Event – – A reminder for those that were there – A flavour of the meeting for those that could not make it

Entrepreneurs World lunch - the audience and speaker
Andy Phillipps discussion with Entreprenepeurs World captured as a mind map with MindManager

http://www.insead.edu/home/ http://www.insead.edu/home/ http://www.cheapflights.co.uk/ http://www.cheapflights.co.uk/ http://uk.linkedin.com/in/davidsoskin http://uk.linkedin.com/in/davidsoskin http://uk.linkedin.com/pub/andy-phillipps/14/15a/397 http://uk.linkedin.com/pub/andy-phillipps/14/15a/397 http://www.toptable.com/ http://www.toptable.com/ http://www.activehotels.com/ http://www.activehotels.com/ http://www.priceline.com/ http://www.priceline.com/ http://www.albion-ventures.co.uk/ http://www.albion-ventures.co.uk/ http://www.reevoo.com/ http://www.reevoo.com/ http://www.i2owater.com/ http://www.i2owater.com/ http://www.greentraveller.co.uk/ http://www.greentraveller.co.uk/



[php function=1][/php]

To help search engines find this page and those with impaired vision to “read” the map.

The image map content is repeated below as a text outline in one or two columns.

Andy Phillipps
See related topics and documents


1. David Soskin
See related topics and documents

1.1 The Interviewer

1.2 Question from audience

1.3 Ex CEO Cheap Flights
See related topics and documents


2. The most distinguished British Internet entrepreneur

2.1 Past

2.1.1 CEO International Priceline.com
See related topics and documents

2.1.1.1 24 billion

2.1.2 Chairman toptable.co.uk
See related topics and documents

2.1.3 CEO and co-founder Active Hotels
See related topics and documents

2.2 Current

2.2.1 Chairman Reevoo
See related topics and documents

2.2.2 Chairman Green Traveller
See related topics and documents

2.2.3 Director Albion Ventures
See related topics and documents

2.2.4 Chairman i2o water
See related topics and documents


3. What before?

3.1 Engineer at BOC

3.2 MBA at INSEAD
See related topics and documents

3.3 Nearly started an Olive business


4. How did you enter the Internet market?

4.1 Via Travel

4.2 Chose a bust business model


5. Raising money?

5.1 Internally generated

5.2 Minimised use of cash

5.3 But then

5.3.1 Business Angel

5.3.2 And many others


6. Business Model?

6.1 Ran bookings for 760 hotels

6.1.1 Most without Internet access to start with

6.2 Alcatel deal

6.2.1 (Slow) Modem in every hotel

6.3 Sole Internet booking system

6.4 But no one buying via Internet

6.5 But we were top of the search results

6.6 Discovered need to dominate sectors

6.6.1 Blackpool


7. Big space for digital entrepreneurs but UK don’t do as well as US

7.1 The US guys were terrifying

7.2 But stretched the truth

7.3 Better at entrepreneurial attitude

7.4 They use the same language


8. Business Vision?

8.1 Fun

8.2 Ever changing mission


9. MBA result?

9.1 Saw how a whole business worked

9.2 Provided common language with venture capitalists

9.3 Realisation of global opportunity


10. Getting customers?

10.1 Find via Internet

10.2 Book appointments

10.3 Show how we were ranked

10.4 Show credibility

10.5 Recruited ex chairman ex largest hotel booking company


11. Breaking the chains?

11.1 4 years for Hilton

11.2 Conservative

11.3 Worked up the ladder

11.4 Small

11.4.1 Medium

11.4.1.1 Large


12. VCs Involvement?

12.1 At key points

12.2 Hands off day to day


13. Guts v Analysis?

13.1 Guts

13.1.1 Try it

13.1.2 Get results

13.2 Analyse

13.2.1 Then optimise

13.2.2 Detailed adjustments

13.2.3 Measure

13.2.4 Kill quickly

13.3 What do you do now?

13.3.1 Learn from customers


14. Dilution?

14.1 Not my expertise


15. Testing 1st customer?

15.1 Take a risk

15.1.1 Promote to

15.1.1.1 Suppliers

15.1.1.2 Customers

15.1.2 With incomplete demos

15.2 Kept coding in house

15.2.1 Much better communication

15.2.2 Easy to manage change


16. Value of Business Plan?

16.1 It attracted money

16.2 But the model changed quickly


17. How did you get those valuations on exit?

17.1 Market leader premium

17.2 It’s what buyer is prepared to pay

17.3 Investment bankers

17.3.1 Process knowledge

17.3.2 Well connected

17.4 Accountants


18. International growth?

18.1 First target – France

18.2 All French employees

18.3 3rd year ahead of track

18.4 We should of sent our manager in at beginning


19. Difference between Top Table and Active?

19.1 Active

19.1.1 Not strong on brand

19.1.2 More functional

19.2 Top Table

19.2.1 Brand message

19.2.2 Customer related


20. Biggest challenge?

20.1 Running out of cash

20.2 Funding rounds most stressful

20.3 Untitled

20.4 Yellow Pages

20.4.1 Terminated contract

20.4.2 Contracts do not have guaranteed duration


21. Priceline was a step back in to large business. How was that?

21.1 Sarbanes Oxley shakes

21.2 Did not know everyone


22. What next?

22.1 Getting back to Exec role

22.2 See saw of entrepreneurship




Leave a Reply

Your email address will not be published. Required fields are marked *