More than ten years ago Anders Ekholm, the Co-Founder of the company, prepared to book a flight for the Easter just to notice that they had already been sold out for the season. He knew that a few weeks earlier there had been tickets available for a price lower than he would have been ready to pay.
Selling tickets at a price below what buyers would be willing to pay looked like a welfare loss to Anders, loss of revenues for sellers and utility for buyers. Therefore he started thinking about different factors that airplane companies could use to better predict demand. Having studied quantitative finance, he understood the challenges involved: factors are hard to identify in the first place and they tend to change over time. This means that factors that would have predicted demand at some point, often perform poorly when applied at another time.
Anders went on to develop an algorithm that does not need to predict demand but is based on demand itself. Anders decided to apply for a patent for his algorithm in the U.S. In 2010. The patent included the pricing algorithm that is the core of our services today. Priceff was established in 2016, and the patent was approved in 2017.
We currently employ a handful of people who have worked in different companies in various industries. Our team consists of real multitalents from different age groups and cultures, who are dedicated to achieve our ambitious goals. This collaboration has enabled our customers’ to increase revenues and decrease waste. No wonder we are eager to see what the future holds for our customers and Priceff!
Our vision is to become one of the market leaders in autodynamic pricing in the EU by 2023.
Our mission is to make the benefits of efficient pricing available to everyone. We look forward to increase the competitive advantage of our customers, bring fair prices to the end user and decrease waste.