US 12,423,745 B2
Method and apparatus for facilitating meta search proxy bidding
Kevin Saito, Chicago, IL (US); Barry O'Sullivan, Chicago, IL (US); Taylor Dykes, Chicago, IL (US); and Giovanni Gargiulo, Chicago, IL (US)
Assigned to BYTEDANCE INC., Wilmington, DE (US)
Filed by BYTEDANCE INC., Wilmington, DE (US)
Filed on May 23, 2024, as Appl. No. 18/672,699.
Application 18/672,699 is a continuation of application No. 17/811,141, filed on Jul. 7, 2022, granted, now 12,033,209.
Application 17/811,141 is a continuation of application No. 16/884,259, filed on May 27, 2020, granted, now 11,416,922, issued on Aug. 16, 2022.
Application 16/884,259 is a continuation of application No. 15/287,413, filed on Oct. 6, 2016, granted, now 10,699,332, issued on Jun. 30, 2020.
Claims priority of provisional application 62/238,477, filed on Oct. 7, 2015.
Prior Publication US 2024/0420228 A1, Dec. 19, 2024
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 30/00 (2023.01); G06Q 30/08 (2012.01)
CPC G06Q 30/08 (2013.01) 20 Claims
OG exemplary drawing
 
1. A method for improving efficiency of a meta-search system by reducing participation in meta-auctions, the method comprising:
receiving, by one or more processors, a property level availability call configured to elicit a response identifying an availability of one or more specified properties for a specified time frame;
determining, by the one or more processors, one or more static values associated with the one or more specified properties, wherein the one or more static values comprise a property margin, a conversion rate, and a return on sales;
calculating, by the one or more processors, an advance purchase window based on a difference between a current date and dates in the specified time frame;
determining, by the one or more processors, a dynamic conversion rate by automatically adjusting the conversion rate based on the advance purchase window, wherein the dynamic conversion rate reflects observed correlations between advance purchase timing and likelihood of purchase completion;
determining, by the one or more processors, based on an associated bid, the dynamic conversion rate, and the one or more static values, whether an affirmative response to the property level availability call is profitable; and
in an instance in which the affirmative response is profitable, causing transmission, by the one or more processors, of the affirmative response, thereby reducing participation in unprofitable meta-auctions and improving computational efficiency of the meta-search system.