Thursday, April 17, 2008

Microsoft Acquires Farecast

Bellevue-based software giant Microsoft has acquired Seattle travel predictions web site Farecast, according to a post by CEO Hugh Crean on Farecast's official blog. Farecast, which provides airfare predictions between major cities, said that the acquisition creates tremendous opportunities for the Farecast team and its customers. The company did not release details of the acquisition, however the Seattle Post-Intelligencer, which broke the story earlier this week, pegged the acquisition at $115M. Farecast had raised $20.6M in venture capital over three round of funding, from Greylock Partners, Lux Capital, Madrona Venture Group, PAR Capital Management, Pinnacle Ventures, Sutter Hill Ventures, and WRF Capital.