Recommendations keep growing big - MyBuys gets $10 M
By Vivek | October 8th, 2007 at 03:56 pm ET
Making sure consumers landing on merchant sites and not leaving empty handed is getting all the focus in the recent past. In technical words it is know as behavioral recommendation technology. Some of the startups making this happen include Baynote, Aggregate Knowledge, MyBuys, and GlobalRoads(review). While each of them have been funded to some extent or other, MyBuys has gone for second round of funding. Today the Redwood Shores, CA based startup announced that it has raised $10M in Series B round of funding. Palomar Ventures led the round with participation from existing investor Lightspeed Venture Partners.
Earlier last month, MyBuys had partnered with PowerReviews(review) to “increase retailer revenues by increasing traffic and conversion rates.” I will have to digg more into that to understand what it means in practical terms.
on October 9th, 2007 at 5:44 am
Vivek — Thanks for the nice mention.
Here’s what we think it means in practical terms for both the consumer and the merchant.
* Consumers looking to buy products see more reviews to help them choose the best products for their needs. Better shopping experience.
* Retailers get get a free service that -politely- reaches out to purchasers to ask them to write a review. More conversions.
And for PowerReviews and MyBuys, it is just a part of our standard offerings.
Will be live on www.ritzcamera.com shortly and then many others. Buy a camera and see for yourself.
on October 9th, 2007 at 11:41 am
Vivek -
Many thanks for the mention of our good friends at MyBuys!
I echo Paul’s comments about the combined efforts of MyBuys and PowerReviews.com and the key benefit our two companies bring to the online shopping experience - we bring shoppers the most relevant products for their needs!
And it today’s world of shopping online, helping “bridge the gap” between the online and offline shopping experience through insightful user generated confident is key to empowering shoppers to make more informed and confident purchase decisions.
Jay Shaffer
VP Marketing, PowerReviews.com
on December 12th, 2007 at 1:15 am
Arent they similar to JuiceMetrIQs?
www.juicemetriqs.com