SOURCE: MyBuys, Inc.

MyBuys, Inc.

May 04, 2010 14:25 ET

MyBuys More Than Doubles Revenue to Start 2010 Strong

With 170 Retail Clients, MyBuys Extends Market Leadership in Personalization

REDWOOD CITY, CA--(Marketwire - May 4, 2010) -  MyBuys, the leading provider of personalized recommendations for multi-channel retailers, today announced record revenue for the first quarter of 2010 that more than doubled the revenue from Q1 in 2009. The company brought 19 new clients live with its personalization solutions, added 17 new retail clients in the quarter, and has now signed more than 70 retailers in the last three quarters combined.

"Q1 was a very strong quarter for us and our retail clients -- we added seventeen new customers to our base of more than 150, and our existing customers continued to leverage more parts of our personalization solution to deepen customer relationships and drive more revenue growth," said Robert Cell, CEO of MyBuys. "We expect the growth to continue throughout the year as we extend the power of MyBuys deep consumer profiles to new innovative services."

In the quarter, MyBuys continued to strengthen its position as an e-commerce thought leader by partnering with Forrester Vice President and Principal Analyst Sucharita Mulpuru and The Wine Enthusiast Vice President of Marketing Glenn Edelman to host a webinar focused on customer conversion and retention. The presentation shared strategies for retailers to help increase the bottom line, while enhancing brand loyalty in 2010.

Also during the quarter, MyBuys released updated editions of the MyBuys e-Commerce Wellness Index, which showed an average 3.7% increase in e-commerce health over the course of the quarter. The Index points to an improved environment as revenue from non-discounted items increased 3.5% compared to the previous year.

About MyBuys

MyBuys is the leading provider of personalized recommendations for multi-channel retailers. The company builds deep profiles based on each individual shopper's behavior, then uses a patented portfolio of algorithms and real-time optimization to deliver the most relevant recommendations. MyBuys' clients are increasing average order value by 45 percent, improving conversion rates by 90 percent, and boosting overall online revenue 10-30 percent. Over 150 retailers, including more than 50 of the Internet Retailer Top 500, partner with MyBuys to offer intelligent, personalized recommendations to their shoppers. Based in Redwood City, Calif., MyBuys is a privately held company. Visit them online at www.mybuys.com.

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