SOURCE: MyBuys

MyBuys

April 16, 2009 09:00 ET

MyBuys Signs 16 New Clients in Q1 2009, Extends Market Leader Position in Personalization

Year-Over-Year Revenue Increases by Over 400%

REDWOOD CITY, CA--(Marketwire - April 16, 2009) - MyBuys, the leading provider of personalized product recommendations, today announced that it signed 16 new retail clients in the first quarter of 2009, adding to the 100-plus customers it had at the beginning of the year and solidifying its position as the market leader in personalization for both web recommendations and email alerts.

MyBuys also reported that revenue in Q1 2009 was up over 400% compared with Q1 2008. The strong growth is a result of new customer signings, record-setting implementations, and a continued increase in adoption by its existing customer base: in Q1, over 68% of customers were using MyBuys personalization solutions across both email and web recommendations, up from 59% in Q4 2008.

"MyBuys continues to see significant growth in new customer acquisition, which is directly attributable to the success we're having within our existing customer base," said Bob Cell, president and CEO, MyBuys. "A key reason for our success is our ability to go live with new customers in as little as three weeks, and to deliver meaningful increases in revenue and margin in the first quarter of operations for new retail customers. Of all the momentum we're seeing, I'm most excited about the continued expansion of our one-to-one marketing service within our existing clients, which is the true litmus test of how well we're doing for our customers."

The company also signed new business partnerships with Escalate Retail, OrderMotion and Gproxy in Q1, extending its partner ecosystem to over 20 retail-centric partners.

In addition, MyBuys released the latest version of its personalized recommendation engine, which includes innovations across both consumer and offer profiles, and incorporates a suite of additional algorithms. By leveraging a hosted, software-as-a-service architecture, all MyBuys clients were upgraded automatically and were able to take immediate advantage of all new capabilities.

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. MyBuys' clients are increasing average order value by 45 percent, improving conversion rates by 90 percent, and boosting overall online revenue 10-30%. Premier retailers -- including Lancôme, Wine Enthusiast and Cost Plus World Market -- partner with MyBuys to offer intelligent, personalized recommendations to their shoppers. Based in Redwood City, Calif., MyBuys is a privately held company. www.MyBuys.com.

Contact Information

  • For more information, contact:
    Paul Rosenblum
    Vice President, Products and Strategy
    MyBuys
    650-591-0210
    prosenblum@mybuys.com