SOURCE: Buysight

Buysight

September 27, 2010 09:00 ET

Permuto Becomes Buysight; New Name Reflects Focus on Transforming Data Into Insights That Help Sellers Connect With Shoppers Who Are Ready to Buy

Ash Patel, Former Yahoo! EVP & Chief Product Officer, Joins Board of Directors

DALLAS, TX and PALO ALTO, CA--(Marketwire - September 27, 2010) - Permuto, a leader in online acquisition, remarketing, and real-time brand advertising, today announced a corporate name change at the Shop.org 2010 Annual Summit. From the start, the company has succeeded in unlocking the full potential of display advertising by drawing insight from data about in-market shoppers and delivering personalized, product-specific advertising on behalf of its clients. Effective immediately, the company becomes Buysight, Inc. -- a brand the executive team feels more accurately reflects the benefits its products provide to its clients. Additionally, Buysight is announcing that Ash Patel, former executive vice president and chief product officer of Yahoo!, has joined the company's board of directors.

According to CMO Jeff Weitzman, "Buysight more accurately reflects the core benefits our products provide to our clients -- insight about buyers and the ability to turn those insights into profits for marketers. We are building the world's largest index of consumer purchase intent, history, and activity data to unlock significant value for buyers and sellers. Making the change to Buysight aligns with our vision and the results we're driving for our clients."

According to research firm Borrell Associates, online ad spending is expected to grow nearly 14 percent in 2011 to $45.6 billion year-over-year. Additionally, the forecast points to targeted display advertising as a main driver of growth. With its Buysight Co-Op and proven technology that can accurately predict what 65 million online shoppers actually want to buy and connect them with personalized offers in real time, Buysight is poised to grow exponentially as more and more marketers look to display to increase the relevance of their online advertising.

Today, the company also announced that it is has completed its initial round of financing, which brings the total funding Buysight has received from ONSET Ventures, Rembrandt Venture Partners, and others including Reid Hoffman, executive chairman and co-founder of LinkedIn, to $10 million. The investment in the company's mission from Buysight's financial supporters is testament to the strong growth and momentum the company is experiencing as demand for its technology continues to gain traction and deliver unparalleled return on investment. The funding is being applied to further evolve Buysight's services and roll out several new capabilities over the next few months and into next year.

"We started Permuto to increase the performance of display ads and deliver return on ad spend comparable to search and we've been very successful in doing that for our e-commerce and other clients," said Shaukat Shamim, founder and CEO of Buysight. "This is an exciting time for our company, and as we move forward as Buysight, we're perfectly positioned and have the resources and talent to dominate our market."

About Buysight, Inc. (formerly Permuto):
Buysight is building the world's largest index of consumer purchase intent, history and activity data, and leveraging that deep insight to unlock significant value for e-commerce marketers. Buysight accurately predicts what over 65 million individual shoppers want to buy and connects them to companies that best meet their needs with instantly personalized, relevant offers for products they're interested in. The result is a channel that creates more relevant, meaningful, and profitable connections between buyers and sellers.

Headquartered in Palo Alto, CA, Buysight was founded in 2008 by pioneers in display and search advertising. For more information, please visit us online at www.buysight.com

Contact Information

  • Media Contact:
    Carla Vicens
    blast! PR for Buysight
    (919) 833-9975 x10
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