Norwalk's Priceline Closes in on $50 Billion Valuation

Once left for dead on the scrap heap of overhyped internet companies, Priceline.com, located at 800 Connecticut Ave. in Norwalk, is poised to not only fully rebound back to its heyday but perhaps exceed it.

Henry Blodgett, writing for Business Insider, says that the company is closing in on being worth $50 billion again, more than a decade after its stock price collapsed 99 percent.

“And, now, a decade later, with shockingly little fanfare, the company's value is about to exceed the level it hit back in the wild dotcom days,” Blodgett writes, calling Priceline's turn around “the most remarkable comeback story in the history of the Internet industry.”

As of 9:34 a.m. Friday, Priceline's stock – which trades under the symbol PCLN – was selling for $985.98, up more than $52, or 5.59 percent, over Thursday's close.

Blodgett credits the company's management team, led by publicity shy CEO Jeff Boyd, for the turnaround.

And Blodgett knows something about comebacks. The former Merrill Lynch senior analyst ran afoul of the Securities and Exchange Commission in 2003 and was barred from trading and paid a $4 million, without admitting or denying the allegations, according to Darien Patch.

He went on to co-found the Business Insider website.

Click here to read Blodgett's story about Priceline's turnaround.