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NetBase Maintains Rapid Growth and Rave Reviews in 1H 2010
Social Media Understanding Company Adds More Top Brand-Name Customers and Appoints Anthony Bettencourt to Board
MOUNTAIN VIEW, Calif.—June 2, 2010—NetBase, the Insight Discovery company, today announced significant progress in the company’s growth strategy, including an influential new Board member, several world-renowned CPG, financial services and mobile customers, and positive reviews from leading industry influencers.
Building on its plan to work with the most pedigreed leaders in the industry, NetBase announced that Anthony Bettencourt has joined the company’s Board of Directors. Bettencourt is currently the chairman of Blinkx, Inc., the world’s largest video search engine on the Internet. Previously, Bettencourt was the Chief Executive Officer of Verity, Inc., where he was responsible for growing the business from $15m in annual revenues to more than $140m from 1995 to 2006 and later sold the company to Autonomy. In 2005, he was awarded the prestigious Ernst & Young Entrepreneur of the Year award for software and technology in Silicon Valley. Bettencourt serves on the advisory board for Santa Clara University’s Center for Science, Technology and Society.
“NetBase has extremely compelling technology that is delivering amazing value to some of the best and biggest brands on the planet,” said new Board Member Bettencourt. “I’m thrilled to join NetBase’s Board at this key time in the company’s growth.”
NetBase’s flagship product, ConsumerBase, already counts among its customers five of the top 10 CPG brands and in the last month of limited release, has added numerous brand-name customers, including several more Top 50 consumer brands. This momentum is reflected in a growing number of positive reviews, including a report by Jason Falls in Social Media Explorer, ConsumerBase Makes Market Research Faster, Cheaper.
To demonstrate ConsumerBase’s agility in surfacing brand insights, the company recently released the first in its monthly Brand Passion Index (see NetBase Introduces Brand Passion Index), which measures the intensity of consumer passion for brands expressed in social media.
NetBase is successfully defining the social media understanding market – an extension of social media listening/monitoring — as evidenced by reports from some of the industry’s most influential writers, including Fern Halper’s What About Analytics In Social Media Monitoring? “Although still in the early phases, social media monitoring is moving to social media analysis and understanding as text analytics vendors apply their technology to this problem,” notes Halper. “The space is heating up as newer social media analysis services such as NetBase are announced.”
“The market for technology to enable social media understanding is expanding as businesses realize they need to get actionable insights from their social media and research investments quickly and easily,” said NetBase CEO Jonathan Spier. “Each month, more of the world’s largest brands are validating our approach.”
NetBase was also covered in a proprietary report by analyst firm The 451 Group, titled “NetBase searches for answers with new semantic analysis tool for market research.”
Recently, Lead411 named NetBase a winner of its “Hottest Silicon Valley Companies” award. NetBase was selected as one of 69 Hottest Companies, along with Facebook, AdMob, and Playdom. Important factors that lead to this recognition: securing $9 million funding (see NetBase Lands $9M In Venture Capital Funding) and expanding its business by 300% in 2009 (see NetBase Expansion in 2009 Includes 300% Customer Growth).
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About NetBase
NetBase provides insight discovery tools that are changing the way people search. Its next-generation semantic technology reads sentences to surface insights from billions of sources in public and private online information. Patent-pending lenses provide context for search results and intelligently guide users to answers. NetBase solutions are assisting market researchers at Fortune 1,000 companies with netnography and social media understanding and enabling science, technology and medical (STM) publishers to enrich their documents for researchers. Five of the top ten consumer packaged goods companies, including Procter & Gamble and Coke, and two of the top three STM publishers, including Elsevier, are using NetBase to find answers faster. Based in the heart of Silicon Valley, NetBase is a privately held company. For more information, visit: www.netbase.com.
