Facebook Set To Get 'a Lot More Money' From Priceline

By Tomi Kilgore Markets MarketWatch Pulse

Facebook Inc.'s travel ads site for businesses could be in line for a big payoff, if it can just iron out a few things to make a key customer happy. When Priceline.com Inc. Chief Executive Glenn Fogel was asked in the travel services site's post-earnings conference call about Facebook's new retargeting product for travel, Fogel said the company was working with Facebook to improve the product to get more business done. He said "we would like to spend a lot more money with Facebook," but are working with the company to come up with tools and other ways to maximize the return on investment, according to a transcript of the call provided by FactSet. "When that happens, we are ready, willing, able to spend a lot of money with them to find another way to get customers," Fogel said, according to the FactSet transcript. Facebook's stock slipped 0.2% in midday trade. It has soared 30.5% year to date, while the S&P 500 has gained 7.1%.

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