NEW YORK-On the heels of its initial public offering, online auction site Priceline.com has embarked on an agency review for a $10-12 million account, the spending for which is expected to grow significantly, sources said.
The Stamford, Conn.-based e-commerce outfit has held credentials meetings with 8-12 shops and plans to reduce that number to between two and four finalists this week. At that point, each will get a creative assignment, with an agency selection due by the end of May.
Paul Brightenbach, vice president of marketing, and Jord Poster, vice president of strategic planning, have been leading the review, sources said.
The duo has focused mainly on the fledgling company's business model and its desire to find an agency to "facilitate understanding ... of the brand." The service bills itself, in large part, as an online name-your-own-price service for airline tickets and other services. Brightenbach could not be reached for comment at press time.
Incumbent Heater Advertising in Boston is not believed to be involved in the review, according to sources, despite the shop's insistence that it will defend.
Heater launched Priceline.com last year via print and radio ads, and later made prominent use of spokesman William Shatner.
The company, whose IPO raised $160 million, is led by Richard Braddock, former nonexecutive chairman at True North.
-with Sarah Jones