Hamlet, which asks: “To Buy Or Not To Buy” attempts to uncover algorithms that predict whether airline prices will go up or down and help consumers decide the right time to purchase their tickets.
- The early-stage company, which recently raised $1.5 million from Madrona Venture Group and WRF Capital, is trying to crack into the multibillion-dollar travel market with a technology that predicts the ever-fluctuating prices of airline tickets.
The value of the service should be clear for any airline traveler who has paid $400 for a round-trip ticket, only to discover that the price dropped $100 the following day. If they had only waited, they could have saved some serious money on that trip to Honolulu or Houston.
That’s where Hamlet comes in, informing travelers of the best time to buy.
I don’t worry too much about when to buy most tickets. If the price seems reasonable, within my expected range, I’ll buy the ticket. Then, if the price falls, most US domestic carriers will issue vouchers for the difference good towards future travel. And if I’m unsure of this rule for the particular carrier I’m buying a ticket on, I’ll ask up front.
It’s not clear whether the service will be sold direct to consumers or to online travel agencies.