Tag Archives: Internet

Internet, Mobile, Software, Technology, Web 2.0

Sesame – smart lock that changes the world

Leave a comment

Palo Alto, CA, March 27, 2015 – Sesame, the world’s first instant smart lock, raised more than seven times of its funding goal on Kickstarter. Launched on Kickstarter on Feb. 25, 2015, Sesame has raised more than $760,000 from backers all over the world.

The smart lock, which allows users to control their door with a smartphone app, attracted thousands.

Connected to users’ phone via Bluetooth, Sesame allows users full control of the lock, even to the exact angle a lock turns. With the optional Wi-Fi Access Point that connects Sesame to the Internet, users don’t even have to be physically near Sesame. The remote control feature allows people to send access to their friends and keep track of whether the door’s locked wherever they are.

With five-patented design, Sesame works with just about any deadbolt in the world. Users can install it in seconds, without replacing existing lock or removing anything. Current model is optimized for US/Canada/Singapore/Norway/Sweden Markets.

With market of Internet of Things (IoT) expanding rapidly, backers are turning more and more attention to smart gadgets that make their life easier. Founded by two students from Stanford University, CANDY HOUSE Inc. designs and manufactures products that inspire a minimal yet joyful lifestyle.

“People will carry less and less things when leave the house, that’s the trend,” said Jerming Gu, founder of Candy House.

Wallet, keys, and cell phone. People used to bring three things when they leave home. Now walltet is gradually replaced by keys. The Starbucks app pays your green tea frappuccino, you Venmo money to a friend for getting late-night pizza, you hop on a Uber without worrying about cab fare or tip.

“With Sesame, the next thing to disappear are the keys,” said Gu.

Contact-Details: CANDY HOUSE Inc.
media@candyhouse.co

Via EPR Network

Amazon, Android, Apple, Apps, Business, Companies, Enterprise, Facebook, iPad, iPhone, Media, Mobile, Money, Software, Technology, Telecom, Web 2.0

Revel Systems was officially announced as the winner of the Business iPad App of the Year Award

Leave a comment

On January 31, 2012 Revel Systems was officially announced as the winner of the Business iPad App of the Year Award. This weekend at Macworld | iWorld, it was clear early on that the Best Business iPad App awards came down to two remarkable companies: Square, led by Jack Dorsey, and Revel Systems, led by female entrepreneur Lisa Falzone. Both of the nominees were a hit with the crowd, and both were in the payment industry, which is the fastest-moving market for iPad apps. Even though voters were presented with an impressive field of nominees, the battle was clearly dominated by these two competitors.

While competition was fierce between Square and Revel, here’s a breakdown of the vote: First of all, users chose Revel Systems as the most useful business iPad app. Revel was also found to help with a wider array of business functions, with seven to Square’s four. Square was found to have over 100,000 users, while Revel Systems has fewer than 100,000. As far as which offers the simplest user interface, both companies were tied. Finally, users chose Revel Systems as the company with the best customer support.

In the end, Macworld users declared Revel Systems iPad POS the winner. Lisa Falzone, CEO and co-founder of Revel Systems, told iPad Biz Apps today that “Revel is honored to have won such an award, and thanks all of the voters at Macworld | iWorld for voting for them.” A wide range of powerful apps were represented, but Revel’s sophisticated level of functionality and wide range of applications led to its selection as the best iPad business app.

Even though Square has been nominated for a Crunchies award, and has over 100,000 customers, users found that it only supplies a payment app. On the other hand, Revel Systems offers a fully functional Point of Sale system to manage every task that store owners encounter on a daily basis. This can explain why Revel has landed deals with many heavy-hitters like Popeye’s Chicken in Georgia (popeyes.com), Illy Coffee in San Francisco (illy.com), U-sushi in San Francisco (u-sushi.com), Camille’s Sidewalk Café in Oklahoma (www.camillescafe.com), and other big franchises. On the other hand, Square’s clientele is largely restricted to businesses that only require a few simple operations, including farmers’ markets, taxi cabs, and street vendors.

Now that the competition is over, Ms. Falzone is back to leading Revel Systems to the top of the Point of Sale marketplace. She has raised $3.7 million in her “A” round of funding last year and is gearing up for her “B” round. The recent victory of Revel Systems has cemented Ms. Falzone’s place among today’s top women entrepreneurs, and she looks forward to the future of what Revel Systems will accomplish. Moving forward, the company hopes to facilitate growth through its open API, which allows all companies to integrate into Revel—creating new opportunities for local commerce to thrive into the future.

Via EPR Network

Apple, Apps, Entertainment, Internet, iPhone, Marketing, Mobile, Software, Technology, Web 2.0

Dude – The iPhone App That Features Dozens Of Hilarious “Dude” Recordings

Leave a comment

“Seriously Dude? An APP about Dude? Cool.” The iTunes store today began distributing Dude and Dude Deluxe, the first Dude Apps to be released for the iPhone and iPod Touch. The Dude Apps feature dozens of hilarious “Dude” recordings. Get ready to laugh along with our pop culture’s greatest living word “Dude” and try to figure out what each “Dude” recording really means.

“Dude is one of the most entertaining and interesting words in any language, it means so many different things. In fact, it can mean everything. People can even converse saying nothing else but Dude,” professes Jason Moskowitz, a partner at The APP Company, the developer of Dude. “Dude is a way to say, ‘Hey read my mind right now’ and so it can mean anything.”

Dude is very famous as well, appearing in Bud Light commercials, headlining major motion pictures like “Dude, Where’s my car,” helping launch the career of Keanu Reeves and that other guy in Bill & Ted’s Excellent Adventure and appearing as the title character “The Dude” inThe Big Lebowski.

“Our goal with Dude and Dude Deluxe is to laugh out loud with one of our pop culture’s greatest living words, Dude. We want to give it the special place it deserves, with its own iPhone App dedicated to nothing but the glory of Dude,” says Scot Robinson, a partner at The APP Company and now a fan of Dude. “Early on I thought it was a stupid idea, but when I started researching and listening to people, I was amazed at how common the word really is spoken.”

The APP Company has created a website and employed researchers to create a repository for all things Dude. Moskowitz explains, “It is set up like a super interactive and fun Wikipedia listing dedicated exclusively to the hilarious and interesting uses and meanings of the wordDude;”

The Dude Lexicon:

Dude is one of the most versatile words in any language. John Swansberg of Slate identifies “at least six distinct usages of Dude:”

The admonitory Dude: the dude deployed when your buddy won’t stop humming “Umbrella” on a long car ride. As in, “Dude, enough.”

The interrogative Dude: useful for ascertaining whether you’ve dropped a call. “Dude? Are you still there?”

The deflated Dude: the dude of bad news. “Dude. Tom Brady’s wearing a boot.”

The exclamatory Dude: the dude of good news. “Dude! Tom Brady is no longer wearing a boot!”

The sotto voce (under one’s breath) Dude: for classified briefings. “Dude: Here comes that tall drink of water from accounting.”

The blissed-out Dude: more accurately rendered as duhuhude. The dude issued upon rediscovering a long-lost (Grateful) Dead tape.

 

 

Dude and Dude Deluxe

Both Dude and Dude Deluxe have been launched simultaneously. Dude is a free App and contains most of the features of Dude Deluxe. For 99 cents, users of Dude Deluxe receive additional Dude recordings, have the ability to set any Dude recording as a ringtone, can send recordings via email as MP3 files, and can prank their friends with Dude Alarms and Dude Bombs.

 

About The APP Company

The APP Company is a leading iPhone applications development company. The APP Company has two divisions, one that develops iPhone applications internally, and the second, APP Last Mile™ which partners with entrepreneurs to invest, develop and provide marketing and management services for their app ideas. The APP company’s core purpose is to provide iPhone owners with interesting, exciting and useful applications by investing in the most creative and selective ideas.

Via EPR Network

angel investors, Business, Funding, Internet, Investments, IPO, Money, Society, Technology, Venture Capital, Web 2.0

Bootstrapping: Weapon of Mass Reconstruction

Leave a comment

“Sramana Mitra’s Bootstrapping: Weapon of Mass Reconstruction is a book for our time because it’s something real out of Silicon Valley. No more stories about legendary VC fundings of startup-to-IPO in six months. …This book has some fascinating histories of the different paths people take to entrepreneurship, and the difficulties they face. I would only have wished each of the interviews to be longer and deeper, because every story is worth telling.” – Fast Company

In a world battered by economic crisis, Sramana Mitra believes entrepreneurship is the only sustainable path forward to a healthy economic world order. And core to the success of entrepreneurial ventures today is the invigorating art of bootstrapping. Sramana Mitra–a serial entrepreneur, strategy consultant and Forbes columnist–takes aim at this essential route along the roadmap to startup success with Bootstrapping: Weapon of Mass Reconstruction (Entrepreneur Journeys Vol. 2; BookSurge; June 1, 2009; $16.95 paperback).

Along with the incisive analysis and commentary that have popularized popularized her blog “Sramana Mitra on Strategy” and Forbes columns, Mitra showcases a dozen successful entrepreneurs and their lessons from the bootstrapping trenches. Overflowing with lively entrepreneurial tangents, theories and behind-closed-doors-experience, the book rises to the level of economic policy discussion while simultaneously offering practical advice from experienced bootstrappers. Important issues like doing more with less, getting started with little or no capital, and validating the market on the cheap are discussed with the likes of Om Malik of GigaOm and Greg Gianforte of RightNow.

In her characteristic narrative style, Mitra shepherds established and aspiring entrepreneurs through another inspiring and page-turning expedition into venture land, a territory she hopes will be claimed by many more in the years to come.

“From my perspective it is clear that small business must be a top policy priority,” explains Mitra. “Let us hope that in the coming decade the number of small businesses will double, then triple and quadruple. For here is the most powerful engine of economic growth and sustenance. Here is our way back.”

More Praise for Bootstrapping:

“Mitra clearly has a passion for small businesses. This useful volume is largely comprised of interviews with the founders of such companies. Her skilled questioning prompts a discussion of the many issues involved in starting and growing a business. The entrepreneurs share wisdom and insight useful to any budding or existing business owner. The reader will be struck by the vision, inventiveness and sheer determination of these entrepreneurial heroes, who operate businesses that are successful but far below the radar. A highly relevant and timely work on entrepreneurship’s role in economic reconstruction.” – Kirkus Discoveries

“Sramana’s work on bootstrapped entrepreneurs is an inspiration in these tough economic times. The solutions to our economic problems ultimately lie with the entrepreneur who brings imagination, resourcefulness and good old-fashioned elbow grease to tackle old problems in new ways, create new solutions and new industries. It is all too easy to forget this, particularly when we feed on the depressing daily diet of endless bailouts and hear trillions of dollars being thrown around. A great entrepreneur can do a lot with ten thousand dollars. This book is a good antidote to the depressing mood of these times.” – Sridhar Vembu, CEO of AdventNet and Zoho, Bootstrapped to over $50 million in annual revenue

“In the end, a true entrepreneur will not be denied. What Sramana captures with simple grace are the riveting personal stories of modern day business alchemists, who mix vision, pragmatism and relentless effort to forge creative new and successful ventures. Her collection of interviews will make for an engaging, educational read, for those in the entrepreneurial space, those considering joining the game and those just plain curious about the formative innovators whose efforts provide outsize social returns of the most concrete and enduring nature.” - Don Hutchison, Silicon Valley Angel Investor

ABOUT THE AUTHOR: Sramana Mitra is a technology entrepreneur and strategy consultant in Silicon Valley. She has founded three companies, is a columnist for Forbes, and writes a business blog, Sramana Mitra on Strategy (www.sramanamitra.com). She has a master’s degree in electrical engineering and computer science from MIT.

Via EPR Network

Apple, Apps, Entertainment, Internet, iPhone, Marketing, Mobile, Technology, Web 2.0

New Site Helps iPhone And iPod Touch App Developers And Publishers Generate More Publicity

Leave a comment

Mobile app Developers and Publishers looking for exposure can now do so with a new website that allows them to giveaway their iPhone/iPod Touch apps by way of a promotional giveaway. App Giveaway (www.appgiveaway.com), allows Publishers and Developers to feature their apps on the website in return for promo codes which they receive from the Apple Store – and maximise potential revenue. The website has been created as a way of helping both mobile Developers/Publishers promote their apps whilst at the same time giving something back to the users of the iPhone/iPod Touch devices.

App Giveaway, (www.appgiveaway.com) went live this week and does exactly what it says on the tin – it features iPhone and iPod Touch apps that are ready to be distributed to the online community. What makes the site unique is that it’s free for all to participate and all we ask for in return are promo codes which we can distribute to our online users, thereby maximising exposure and potential revenue in the future from direct links and referrals.

Application Developers and Publishers that are already receiving exposure on the App Giveaway website include Game Systems with their iPhone application “T.A.N.K. Arena Battle” and an app called “Earth Quake Watch” developed by an aspiring 11 year old.

The idea developed after Apple agreed to provide developers 50 promo codes each: “I heard Apple was providing Developers upto 50 iPhone promo codes for new apps and/or updated apps featured in the Apple Store. I thought, ‘That’s it, why don’t I provide Developers and Publishers a central platform where they can giveaway their promo codes whilst promoting their app much more effectively?’ Then I thought I might as well include categories, too, as this will give visitors a much more convenient way of looking for apps.”Al says.

George Sutty of G.A.M.E.S. says “I am very excited to work with AppGiveaway to help me promote my game. After talking to other iPhone developers, it’s very clear, that without the right exposure, the odds of getting noticed among the other 40,000+ iPhone applications are pretty slim. It is hard enough to get a review noticed, and that’s assuming you can get the review written in the first place. The giveaway is such an easy way for a developer to get noticed”.

The site also maximizes exposure by serving as a useful app directory, because all iPhone and iPod Touch apps are categorized in a sidebar. Categories include Books, Business, Entertainment, Finance, Games, and many more.

Al has big plans for the site: “I want the www.appgiveaway.com website to be the biggest promoter of iPhone and iPod Touch applications. I also want to provide a service for people to feature and visit useful apps. I believe the app giveaway website will have a profound effect on the way we find, download and forward useful apps in the future. We also have plans to launch an iPhone app version of the app giveaway website very soon”

App Giveaway also features articles. Al says: “I’m a big fan of writing, so I would like to write a few words related to mobile applications on the website.”

Via EPR Network

Apps, Business, Companies, Enterprise, Internet, Social Networking, Software, Technology, Web 2.0

Bitrix’s all new Intranet Portal 8.0 – Collaborate, Communicate and Socialize

Leave a comment

Bitrix Inc., an enterprise 2.0 software company that develops portal solutions for businesses, announced the all new Bitrix Intranet Portal 8.0 – designed to revolutionize online collaboration.

“The new version of the product embodies the principles of Enterprise 2.0. We call them “Three Cs” – Collaboration, Communication and Corporate Culture. The perfect integration with MS Office Outlook, built-in instant messaging server, collaboration tools and personal dashboard – they all allow companies to improve business efficiency and enhance decision making.” said Sergey Rizhikov, CEO of Bitrix, Inc.

The Bitrix Intranet Portal 8.0 is a real breakthrough in Enterprise 2.0 solutions. For the first time in IT history, the unique instant messaging server, XMPP/JABBER, has been built right into an Intranet Portal. All you need is to install one of widespread clients for JABBER – Miranda IM, Trillian Pro, Adium or any other, depending on your operating system (Windows, MAC, or UNIX). Connecting through your mobile device also just got easier. Any handset will get along and all you need to do it to synchronize your handset with the portal. Once you are logged in you can see who all are online, chat with colleagues, share files with them and even set your mood status.

Two-way integration with MS Office Outlook - Bitrix Intranet Portal has complete, two-way synchronization with Microsoft Outlook contacts, calendar (appointments) and tasks. Now you don’t need to flip between screens to keep track of your meetings. You can add events to the Outlook calendar and your personal portal calendar will be automatically u p d a t e d.

Booking a meeting room - Bitrix Intranet Portal 8.0 allows you to see which rooms are available and when, streamline and manage scheduling processes in real-time, request equipment or setup services at the time of booking. It’s a dream come true for anyone who schedules meetings — and anyone who has to attend them.

Personal dashboard – Bitrix Intranet Portal 8.0 allows you to customize the layout of the main and personal user page according to your personal preferences. You can modify the look and feel of the portal page by including different columns such as events, working groups, company news and RSS-feed information about weather, traffic, etc. A few clicks and your personal portal is ready!

Proactive Protection – build in Proactive Protection Module is a robust combination of proactive filter (Web Application Firewall), disposable passwords, fast and effective anti-malware, protection of authorized sessions, activity control, intrusion log, Control Panel page access blocking by IP, Stop List and integrity control tools to defend against the majority of Internet risks.

Check out the Bitrix Intranet Portal 8.0 today with a 30 day trial offer: http://www.bitrixsoft.com/products/intranet/demo.php#tab-trial-link 

You can even test a live system – just visit our virtual lab: http://www.bitrixsoft.com/products/intranet/demo.php 

Bitrix Intranet Portal 8.0: http://www.bitrixsoft.com/products/intranet/index.php#tab-ver8-link 

Proactive Protection Module: http://www.bitrixsoft.com/products/cms/features/proactive.php

 

About Bitrix

Bitrix, Inc. specializes in the development of content management systems and portal solutions formanaging web projects and multifunctional information systems on the Internet. Bitrix specialists, by their considerable efforts and skill, developed the Bitrix Site Manager software—a standalone application that provides complex web solutions. This software tech-corp was established in 1998 by a group of IT specialists. Bitrix continues to hold a leading position in the web development market, always offering high-standard solutions to its clients and partners.

Via EPR Network

Business, Companies, eCommerce, Internet, Marketing, Money, Social Networking, Technology, Web 2.0

Start-Up Weebiz.Com Launches With The Promise To Give Away 1.000.000€ To Its Most Influential Company

Leave a comment

Weemagine, a Portuguese Web 2.0 startup, is launching Weebiz.com (its first product). Weebiz is just like a business expo, but with the utilities of a social network, where companies from all around the globe can leverage their business contacts to find opportunities and achieve success.

To promote and incentivize further networking, Weebiz is going to offer a prize of ONE MILLION Euros to its most influential company.

Registering a company and using Weebiz is free, although there are First-Class accounts that give company profiles an Authenticated badge as well as other advantages like permanent business headlines, unlimited products, etc.

All First-Class accounts will be eligible to win the 1.000.000€ challenge and the winner will be the company that uses Weebiz to its full potential (which will be determined by a score, calculated according with a formula available at Weebiz.com).

João Santos, General Manager of Weemagine, believes that “In a moment of economic uncertainty and fragility, more and more companies are finding that the internet is a platform bursting with opportunities. Web 2.0 applications and social software have proven to be highly efficient and cost-effective tools whose usefulness is nowadays unquestionable. So, in a moment when businesses must find new markets and clients, partners and alliances, new ways to promote themselves and their brands, Weebiz aims at providing them with exactly the kind of new approach to business that they need to succeed in the rough economic environment of today.”

About Weemagine:

A technology startup based in Leiria, Portugal. Weemagine is an ambitious project of a small team of enthusiastic, senior year students and recently graduates from the University of Coimbra.

Via EPR Network

Database, Internet, Search Engines, Software, Technology, Web 2.0

An Innovative Search Engine Module Was Released

Leave a comment

New search engines are ready today!

An innovative search engine module was released to enhance and add value to your company’s existing digital assets.

On October 15, 2008, a multi-dimensional search engine module, MDCache was released by Netsolutions, Inc. It’s a Java library with a simple API to search data by multiple keys efficiently & effortless.

mdcache logoThis software makes it possible to develop web 2.0 ready, unique search engines; such as recommendation engine, image search engine, sound search engine, correlation analysis, location search engine & pattern recognition engine. Check out http://mdcache.com/ for more details.

Multi-dimensional Search Engine
Multi-dimensional searching means searching with multiple keys. MDCache makes it possible to search complex data more efficiently than general databases. It also enables high-performance searching by multiple keys without distributed processing of multiple servers such as with MapReduce. The main benefit is that it can be utilized for converting existing digital assets into unique web 2.0 ready applications -or- new generation search engines at a much lower cost.

Background of MDCache
A database has become an essential commodity for businesses, and using databases in general is popular in today’s digital world. On the other hand, there are case studies of successful players who provide valuable services based on unique data models. The unique data models come from their independent research and analysis. MDCache was developed to produce unique data models by utilizing existing digital assets easily & efficiently.

MDCache Defined
MD is an abbreviation for multi-dimensional. Cache means data storage to retrieve efficiently. MDCache was named as a multi-dimensional caching solution which enables developments to go beyond the limitations of general databases; while utilizing existing digital assets effectively.

About Netsolutions, Inc.
Netsolutions, Inc. is a start-up IT company located at the bottom of Mt. Fuji in Japan. The idea of different scales, realizing unique networks and the greatest possible attention to detail are what make Netsolutions a dynamic, results-driven organization.

Via EPR Network

More Software press releases

 

Internet, Society, Technology, Web 2.0

Keepit.com Recognised By Industry Experts As Setting New Usability Standards For Online Backup

Leave a comment

Award-winning online backup specialist, Keepit.com, is officially commended by influential industry experts, Backupreview.info and Komputer for alle, highlighting that they are leading the field.

keepit logoLeading Scandinavian PC magazine, Komputer for alle, conducted a rigorous and extensive test of 8 different vendors of online backup services such as Keepit.com, Mozy and ADrive and awarded the winning spot to Keepit.com, stating:

“We are impressed about the simplicity and uncomplicated structure which Keepit has been able to design. Such simple programmes are often synonymous with extremely basic products. This is not the case with Keepit. Time has been used on the graphics and you are guided all the way through.” (Komputer for alle, July 2008)

With a core mantra at Keepit.com of, “Backup via the Internet is for everybody”, the company delivers a user friendly online backup solution that sweeps away all competing solutions. The recognized industry web site Backupreview.info which provides news and reviews about online backup predicts a bright future for Keepit.com due to outstanding simplicity and top-notch security.

Backupreview commented, “Keepit excels in simplicity without compromises on security and safety. Keepit shows the way to provide simple and secure backup for the non-technical user. Keepit has just launched its North American operations, and it is ready to play a challenging competitor role against the major players in the online backup industry. Keepit’s future looks very promising. We highly recommend Keepit.”

With a carefully planned expansive partner strategy Keepit.com is extending the reach into new markets at rapid speeds. Although there are several providers of online backup, only Keepit.com has accomplished to deliver a solution that hits the sweet spot between pricing, usability and security – and customers and partners alike want it for these qualities.

Keepit.com might be a new service in online backup, but it is far from a start-up.Keepit.com is backed by successful hosting company Cohaesio providing more than 10 years of experience in hosting, storage and infrastructure.

Extensive research shows the market for online backup services is relatively un-tapped and there is a real need for secure, simple and automatic online backups. Keepit.com has developed the entire solution in close relationship with IBM based on their market leading enterprise backup technology Tivoli Storage Manager (TSM).

“We are proud to win in a very strong international market due to simplicity and security. But we have no intention to stop here. We run a very close dialogue with our customers who are extremely helpful in providing feedback to make Keepit.com an even better solution”, said Kresten Bach Søndergaard, Product Manager at Keepit.com.

Keepit.com offers both a free version and Keepit UNLIMITED paid versions to consumers to store important or personal data such as documents or digital photos.

About Keepit.com:Keepit.com is a simple and automatic every day backup service, providing high security, low costs and ease of use, to ensure everybody can secure their digital photos and other important information. Rooted in Scandinavia it is the ambition of Keepit.com to be one of the leading providers of online backup services by 2009. Keepit.com is backed by hosting company Cohaesio A/S – the company behind webhosting success Surftown.com.

Via EPR Network

More Computers press releases

 

Benchmark Capital, Bessemer Venture Partners, Business, DAG Ventures, Funding, Internet, Investments, Money, Social Networking, Travel, Venture Capital, Web 2.0

Yelp: $200M valuation, $31M total funding, 8M uniuqes, SEO – all for local reviews

Leave a comment

The 4 years old Yelp, which is a local review site, has already reached a hefty popularity on Web. Today we have read online the site claims to have more than 8M unique visitors per month, which can already be called a hugely popular site and all that achieved within 4 years only. Pretty impressive one may say. But the company seems to have raised tons of money in 4 rounds totaling $31M to date. The pre-money valuation was rumored to be in the $200M range, which for a site with almost 10M uniques per month is becoming an industry standard already. The revenues, also rumored, are said to be in the $10M range per year, which was widely criticized on different tech blogs as not enough taking into consideration the site’s already massive reach. Well, we are not quite agreeing with those critics. Take for example Digg and Technorati, both sites are hugely popular and their revenues are not quite impressive either and are perhaps in the Yelp’s annual range. Not even to mention WordPress.org‘s case and their strong NO to a $200M buyout deal last year on little to no revenues, as far as we know. We would guess that just like Digg and Technorati, Yelp will also try to shop itself around and their investors are in fact looking for an acquisition deal with hefty exit price tag rather then building a self-sufficient company taking into consideration the very favorable time for web 2.0 companies in the Valley. Yet, we think $10M per year off 8M unique visitors per month is pretty well done job in monetizing their traffic, for now. 

Their forth round of funding is said to be in the $15M range and led by DAG Ventures. Yelp says that they will be using the money to expand geographically, add onto their sales team, and establish an office in NYC. With this latest round, DAG joins previous investors Max Levchin who put $1 million back in the summer of 2004, Bessemer Venture Partners with their $5 million round closed in 2005, and Benchmark Capital ($10 million, Q4 2006). The company’s total funding is now $31M. If the rumored pre-money valuation is correct then DAG Ventures seems to have bought only 7.5% for its money.

The company is based in San Francisco and was founded back in 2004 from former PayPal early employees.

Yelp claims they are relying on “word of mouth marketing” but from what we have seen their site is heavily search engine optimized with several million of indexed pages at Google, which is well done and good after all, but you should refrain from claiming you are all about word of mouth marketing. We have no access to their Google Analytics files where the traffic sources are visible, but we are pretty sure a vast majority of their 8M uniques per month is coming from Google and some of the other top search engines. 

Other critics of the company’s strategy say that a viable approach to building a company like Yelp would be to prove that your business model works in the cities that you initially target and then replicate that model elsewhere once you have your validation. If you cannot establish a profitable business model in the cities you initially target, expanding your sales force, adding additional offices and replicating your unsuccessful model elsewhere are not viable solutions for developing your company.

The local space is very crowded area as it seems. Yelp’s competition includes companies like InsiderPages (acquired by Citysearch), Viewpoints, YellowBot, Google Local, Yahoo Local, JudysBook.com, Rummble, LocoGopher.com, Zvents, Upcoming, Qype, Tipped, GenieTown, YellowPages.com, among others.

More about Yelp

Yelp is the fun and easy way to find, review and talk about what’s great (and not so great) in your world. You already know that asking friends is the best way to find restaurants, dentists, hairstylists, and anything local. Yelp makes it fast and easy by collecting and organizing your friends’ recommendations in one convenient place.

Yelp is the ultimate city guide that taps into the community’s voice and reveals honest and current insights on local businesses and services on everything from martinis to mechanics. Yelp is just real people, writing real reviews, and that’s the real deal. Yelp is a fun and engaging place for passionate and opinionated influencers to share the experiences they’ve had with local businesses and services. Yelp is the definitive local guide in the San Francisco Bay Area and a force to be reckoned with in Chicago, New York, Boston, Los Angeles and Seattle. But really, we’re everywhere. From Austin to Madison and everywhere in between, reviews are coming in from all over the country!

Yelp is word of mouth marketing – amplified. Savvy local marketers now have a great channel to effectively target local consumers. Since July 2004, co-founders Jeremy Stoppelman (CEO) and Russel Simmons (CTO) and their Yelp crew have been striving to make life better for people who love to patronize great local businesses. Discovering accurate information on local establishments has never been this entertaining. Writing reviews has never been this fun, easy and addictive!

The Yelp Management Team

Jeremy Stoppelman
Co-founder and Chief Executive Officer
Jeremy co-founded Yelp Inc. in July 2004 with former colleague and friend Russel Simmons.
Prior to Yelp, Jeremy was the VP of engineering at PayPal. He left PayPal in the summer of 2003 to attend the Harvard Business School. Upon completing his first year at HBS, Jeremy joined an incubator started by Max Levchin (co-founder of PayPal) for a summer internship. It was there that he was reunited with his old colleague Russel Simmons and the two teamed up to create a vibrant community around local information. Jeremy holds a B.S. in computer engineering from the University of Illinois.

Russel Simmons
Co-founder and Chief Technology Officer
Russ co-founded Yelp Inc. in July 2004 with former colleague and friend Jeremy Stoppelman.
Prior to Yelp, Russ was one of the early employees and the lead software architect at PayPal. He led a team of top engineers on critical projects related to security, scalability, stability, and internationalization as the company scaled rapidly. Following his time at PayPal, Russ joined Max Levchin’s (co-founder of PayPal) incubator, where he teamed up with Jeremy. Russ holds a B.S. in computer science from the University of Illinois.

Geoff Donaker
Chief Operating Officer
Geoff joined the team in November 2005.
Prior to Yelp, Geoff spent five years building Web communities at eBay, most recently as director of international category management and previously as director of collectibles. His previous experience includes business development and marketing management roles at Excite@Home, Voter.com, Classifieds2000 and Mercer Management Consulting. Geoff has a B.S. in mechanical engineering from Stanford University.
More

http://yelp.com/
http://blog.yelp.com/
http://jeremy.yelp.com/
http://www.google.com/search?q=site%3Ayelp.com
http://www.techcrunch.com/2008/02/26/yelp-raises-15-million-fourth-round-valuation-200-million/
http://www.drama20show.com/2008/02/27/yelp-raises-more-money-for-business-stuff-and-parties/
http://valleywag.com/tech/jeremy-stoppelman/the-hard-life-of-a-web-founder-244590.php
http://valleywag.com/tech/party-report/party-correspondent-confronts-ghosts-of-yelp-parties-past-331048.php
http://www.timeout.com/chicago/articles/features/25797/amateur-hour
http://www.npr.org/templates/story/story.php?storyId=18349445
http://money.cnn.com/2008/01/23/smbusiness/manage_online_reputation.fsb/index.htm?postversion=2008012409
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/14/AR2007081401782.html
http://publications.mediapost.com/index.cfm?fuseaction=Articles.showArticleHomePage&art_aid=64844
http://startup.wsj.com/ecommerce/ecommerce/20070719-richmond.html
http://www.informationweek.com/news/showArticle.jhtml?articleID=199100332
http://online.wsj.com/article/SB117272184209823054-search.html?KEYWORDS=yelp&COLLECTION=wsjie/6month
http://venturebeat.com/2006/10/04/local-review-site-yelp-raises-10-million-from-benchmark/
http://www.techcrunch.com/2007/09/25/garageseek-rates-mechanics-but-yelp-will-kill-this-category-too/
http://gesterling.wordpress.com/2008/02/27/yelp-raises-15-million-in-round-four/
http://bub.blicio.us/?p=732
http://www.crunchbase.com/company/yelp
http://joeduck.com/2008/02/27/yelps-new-funding-round/
http://www.alleyinsider.com/2008/2/yelp_raising_more_money_opening_ny_office
http://en.wikipedia.org/wiki/Yelp%2C_Inc.