Priceline Group didn’t didn’t disclose the purchase price that it paid to acquire Seattle hotel marketing startup Buuteeq in June.
But now we’re getting a few clues via a SEC filing from Bellevue-based Concur.
“During the three months ended June 30, 2014, we sold our equity interest in Buuteeq, Inc. As a result, we recorded a cost method investment related gain of $14.6 million,” Concur writes in its latest 10-Q.
Concur did not disclose the size of its original investment, made via a $10 million venture capital round in October 2012.
A separate source familiar with the deal said that Priceline paid between $125 million to $140 million for Buuteeq.
Seattle’s Madrona Venture Group also participated in the $10 million venture round, following a $5 million round from Seattle area angel investors that helped the company get off the ground. With roughly $15 million total capital invested, Buuteeq’s investors appear to have done pretty well, including Concur which showed the $14.6 million gain in its SEC filing.
Buuteeq was founded by former Microsoft employees Forest Key, Adam Brownstein and Brian Saab, and at the time of the sale it employed about 200 people worldwide. Those employees are staying on board at Priceline, and Buuteeq continues to operate as a standalone brand. Key was not immediately available to comment for this story.
At the time of the deal, venture capitalist Tim Porter of Madrona said that the acquisition was a fantastic outcome for shareholders and investors, noting that it was “a real win-win for all involved.”