Off & Away uses a Swoopo-like, pay-per-bid auction model to sell upscale hotel room reservations online. Users buy $1 bids and can bid repeatedly on a listed room until the auction ends; the final bidder wins the room at a steep discount while losing bidders can apply their spent bids toward booking the room. The site offers rooms at over 100,000 hotels globally, including properties such as The Pierre in New York and The Fairmont in San Francisco, and winning bidders are saving an average of 89% off retail prices. Losing bidders can receive more than their money back when they book with auctioned properties (up to 110% of their bids). The company has added features allowing non-winning bidders to aggregate used credits and extended bid-credit expiration from 7 to 30 days. Off & Away launched at TechCrunch Disrupt in May and plans to use new funding to expand its team, continue product improvements and marketing initiatives, and bring new hotel partners on board.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2010