SOURCE: MyBuys

MyBuys

August 04, 2009 08:00 ET

MyBuys Furthers Market Leadership With Phenomenal First Half of 2009

Financing, Client, Partner, Product and Employee Expansion Drive Momentum

REDWOOD CITY, CA--(Marketwire - August 4, 2009) - MyBuys, the leading provider of personalized product recommendations (PPR), today announced that it continues its upward trajectory of 400% growth across the board, furthering the company's position as the market leader in personalization for web recommendations and all forms of email.

In 2009 MyBuys' growth and expansion included adding 40 more clients and growing the partner ecosystem by 10, including an exclusive reseller partnership with MarketLive. MyBuys service offering was enhanced with embedded recommendations in transactional emails and the launch of a new merchandiser portal. The company invested in expanding the engineering, go to market, and services teams and secured $7M in additional funding; raising a total of $20M in venture capital.

A thought leader in the space, MyBuys also released the second annual Personalized Product Recommendation Report based on a 1,000 consumer survey fielded by the e-tailing group. Robert Cell, CEO, announced the results, including the fact that 76% of shoppers report purchasing additional product based on recommendations, at the IRCE show in Boston in June.

"We created the market for Personalized Product Recommendations and now it is heating up as a result of our leadership and drive. Consumers want and expect personalization and retailers know that executing well on this vision will lead to incremental revenue," said Robert Cell, CEO MyBuys. "We were able to raise funding in this tough economy because we create real results for our over 120 clients. We are excited to be delivering so well for our clients and expanding the business on all fronts and expect our phenomenal growth to continue."

About MyBuys

MyBuys is the leading provider of personalized product recommendations for online 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 on the web and in email. MyBuys' clients are increasing average order value by 45%, improving conversion rates by 90%, and boosting overall online revenue 10-30%. Premier retailers -- including Restoration Hardware, Lancôme, Wine Enthusiast and Cost Plus/World Market -- rely on MyBuys to deliver dynamic, personalized merchandising to their shoppers. Based in Redwood City, Calif., MyBuys is a privately held company. www.MyBuys.com.

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