Posts Tagged ‘Internet’
Thursday, September 2nd, 2010
 WASHINGTON, DC – DC-based EverFi, which develops media education platforms, has chalked up an $11 million funding led by New Enterprise Associates. TomorrowVentures and Michael Chasen, CEO of Blackboard and other individual investors paritcipated.
Founded in 2008, the company teaches life skills such as financial literacy and student loan management using digital games, messaging, social media, animations, and video.
EverFi’s adaptive technology adjusts to a user’s pace and learning levels.
The company says more than 2,000 public schools in 47 states will use its software.
CEO Tom Davidson said, “This is an entirely unique model, with major corporations and foundations licensing our programs nationwide for schools.”
Customers include Capital One, Genworth Corp., U.S. Bank, PayPal and BB&T.
Tags: Blackboard, DC, EverFi, financial literacy, financing, Internet, Michael Chasen, New Enterprise Associates, Tomorrow Ventures
Posted in Education, Internet/New Media, IT, Money, Potomac, Washington, DC | Comments Off
Tuesday, August 24th, 2010
 ORLANDO, FL - Panda Security, a cloud-based Internet security firm, says its latest survey of small and medium-sized businesses (SMBs) shows that nearly half (46 percent) have been victims of cybercrimes. That’s up 2 percent from its last survey.
The 2010 survey revealed there has been little to no improvement from last year in SMBs using industry standard protection methods.
Thirty-one percent of businesses are operating without anti-spam, 23 percent have no anti-spyware and 15 percent have no firewall.
“Many SMBs simply don’t have the resources in terms of budget, time and human capital to devote to protecting their computers and sensitive data,” said Sean-Paul Correll, threat researcher at PandaLabs.
“The study results are proof that IT service providers and vendors have an important role to play in educating small businesses on threats, and helping them determine the best way to protect themselves.”
Additional findings from the study related to businesses’ investment in security and malware infection rates include the following:
Investment in Security
– Security budgets remain about the same as last year, although when asked if they had anyone dedicated to security management, only 63
percent of companies in the U.S. confirmed they had;
– Thirteen percent of U.S. SMBs are operating without security systems in place at all. Fifty-seven percent of this group reported the reason
for lacking security was that it is viewed as not important or necessary;
– Of the companies that do have protection in place, 36 percent of U.S. SMBs said they were using free solutions that are designed for home
users. Ninety-seven percent said they have installed an anti-virus solution on their computers. However, 12 percent admitted these systems were out of date;
– The most widely used security solutions are anti-virus and firewall products,
We’ve found that even keeping our security software up to date and running several specialized programs doesn’t prevent malware from sneaking in from the Internet. Still, being vigilant helps and so far we’ve managed to avoid disastrous infections.
We are encouraged by a number of new security products, including Panda’s, which taxes a system less because it is cloud-based, but also external systems that corral malware in a separate unit so that it never penetrates to your system.
To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Atlanta, Internet, Panda Security, SMBs, study
Posted in Georgia, Internet/New Media, Security | Comments Off
Monday, August 16th, 2010
 ATLANTA – Carlytics, which sells banking rewards solution services that allow merchants to target customers based on what they purchase, has banked an $18 million equity round led by ITC Holdings and Kinetic Ventures.
All the company’s previous investors participated including Canaan Partners, Polaris Venture Partners, and Total Technology Ventures. Concurrent with the financing, Campbell B. Lanier of ITC Holdings and Kinetic Ventures has joined the Cardlytics board.
“Our exceptionally strong direct marketing performance coupled with the rapid expansion of our Financial Institution footprint positioned the company to attract significant capital from strategic new investors,” said Scott Grimes, CEO of Cardlytics.
Cardlytics lets retailers target advertising to specific consumers via online banking site.
In a recent interview with TechJournal South, venture capitalist Don Rainey of Grotech Ventures told us that companies helping consumers save, manage or spend money are poised to take advantage of a consumer focus on just that. (See: Grotech VC sees money management as ripe for startups ). Atlanta, with its history as a financial hub, is developing a substantial number of companies in the payments and digital money space.
Cardlytics raised $4 million in debt from Gold Hill Capital in April.
The company previously raised about $13.4 million according to news reports.
The company says that financial institutions using the Cardlytics platform will be providing retail offers to over 10 million consumers this fall.
“We are working closely with our financial institutions to bring the benefits of transaction-marketing to all customers, even if they are not active on-line banking users. This influx of capital provides the resources to accelerate the introduction of our next generation of technology,” said Lynne Laube, president of Cardlytics.
In July, the company was named a 2010 Red Herring North America Top 100 award winner.
Tags: Atlanta, Campbell Lanier, Canaan Partners, Cardlytics, Don Rainey, financing, Gold Hill Capital, Internet, ITC Holding, Kinetic Ventures, Polaris Venture Partners, Scott Grimes, Total Technology Ventures
Posted in Georgia, Internet/New Media, Money | 1 Comment »
Monday, June 28th, 2010
 BOCA RATON, FL – iTrackr Systems Inc., a company htat specializes in real-time tracking of all types of consumer services, plans a $4.9 million initial public offering of stock, according to a regulatory filing.
The company’s retail site www.itrackr.com is a social networking site for consumers who want to find or track goods and services.
In a filing with the U.S. Securities and Exchange Commission, the company says it plans to sell up to 19.62 million shares at .25 a share.
The company, previously known as Must Haves Inc., reported revenue of only $10,742 in the first quarter this year.
The company will not receive proceeds from the IPO since the shares are being sold by existing shareholders. They represent a 73 percent stake in the company.
CEO John Rizzo, who founded the company in 2006, plans to sell 4.75 million shares, 65 percent of his holdings. Rizzo previously ran IT consulting firm ERM Solutions, which he founded in 1998.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Flordia, Internet, IPOs, iTrackr Systems, John Rizzo
Posted in Florida, Internet/New Media, IPOs, IT, Money | Comments Off
Thursday, June 24th, 2010
 ATLANTA – Efreightsolutions, a Web site providing electronic solutions to help freight carriers automate shipping, has raised $1.9 million of a $5 million equity offering, according to a regulatory filing.
The company says it provides a comprehensive display of top quality carriers and rates from a central location, ability to electronically schedule and tender shipments to the carrier selected, electronic shipment tracking, and reporting tools which allow businesses to monitor and track their transportation spend over any specified length of time.
This appears to be Efreightsolutions first investment round. The company disclosed the raise in a filing with the U.S. Securities and Exchange Commission, which cites only CEO W. Spencer Askew as a principal.
Tags: Atlanta, Efreightsolutions, financing, Internet
Posted in Georgia, Internet/New Media, Money | Comments Off
Friday, June 18th, 2010
 CARY, NC – Stephen Wiehe, president and CEO of SciQuest Inc., which sells on-demand strategic procurement and supplier enablement solutions has been awarded the title of Ernst & Young Carolinas Entrepreneur of the Year.
“Steve is truly deserving of this honor. Since joining the SciQuest team in 2001, Steve has improved not only the business model but the culture,” said Jaime Duke, Chief Operating Officer for SciQuest who has worked with Steve for over 10 years.
“He took a struggling dot-com venture and subsequently turned it into a leading provider of on-demand purchasing solutions for education, healthcare, government and life sciences organizations. Moreover, he’s created a culture where ideas and input are encouraged and are able to thrive.”
Wiehe’s success can also be attributed to his passion for bringing out the best in others and creating a culture of excellence. His leadership style has garnered other honors including the Triangle Business Journal’s “Best Places To Work,” American Business Awards’ “Turnaround of the Year” and NCTA’s “Software Company of the Year.”
Wiehe’s spirit of entrepreneurialism began early in life when he founded Greek Games while in college, a company that placed pinball machines in fraternity houses. Though he’s come a long way since then, garnering over 20 years of experience as a technology entrepreneur and building a strong background in finance, Wiehe still keeps his eye on the future and lives by the fundamental motto “Let’s build a great company, and the opportunities will come.”
We’ve followed Wiehe’s successful turnaround efforts at SciQuest for some time. The company recently refiled to launch and IPO after going private several years ago.
Other NC winners include:
• Thomas P. Baliker, President, Spartan Foods of America Inc., Spartanburg, S.C.
• Jud Bowman, President and CEO, PocketGear, Durham, N.C.
• Leah Brown, President and CEO, A10 Clinical Solutions, Cary, N.C.
• Craig A. Collard, President and CEO, Cornerstone Therapeutics Inc., Cary, N.C.
• Randy Kibler, CEO, Bojangles’ Restaurants, Inc., Charlotte, N.C.
• Lawrence D. Stern, Chairman and CEO, Talecris Biotherapeutics, RTP, N.C.
• Charles M. Swoboda, CEO, CREE, Durham, N.C.
• Stephen P. Zelnak Jr., Chairman (retired), Martin Marietta Materials, Raleigh, N.C.
• Jane Zhang, Founder and CEO, JH Global Services, Inc., Greenville, S.C.
Previously on TechJournal South:
SciQuest files for $75M IPO, capping turnaround story
Switching to SaaS saved SciQuest
Tags: Entrepreneur of the Year, Ernst & Young, Internet, NC, SaaS, SciQuest, Stephen Wiehe
Posted in Carolinas, Events, Internet/New Media, North Carolina, People, Uncategorized | Comments Off
Friday, June 18th, 2010
 DURHAM, NC – Motricity, which sells mobile Internet and data services, sold fewer shares than expected, 5 million at $10 each, according to Reuters. The Bellevue, WA-based company, founded in Durham, NC, originally filed to sell 6.75 million shares at between $14 and $16, but lowered its price to between $10 and $11, which we reported yesterday.
The company said in an SEC filing that billionaire investor Carl Icahn, who already owns 18.5 percent of the company, wanted to buy 1 million of the IPO shares.
Reuters cited an underwriter as the source of its report. The company will trade on Nasdaq under the symbol “MOTR.”
Motricity raised more than $365 million in venture backing from Advanced Equities, Carl Icahn, New Enterprise Associates, Technology Crossover Ventures, Massey-Burch Capital, Noro Moseley Partners, Intel Capital, Qualcomm Ventures, Sienna Ventures, TriState Investment Group, and Wakefield Group.
Tags: Durham, Internet, IPOs, Motricity, NC
Posted in Uncategorized | Comments Off
Thursday, June 17th, 2010
 CHARLESTON, SC - Benefitfocus, a company selling Software as a Service solutions for health and voluntary benefits, has acquired BeliefNetworks Inc., which transforms real-time data – including consumer behavior, marketing campaign data and social networking conversations – into actionable knowledge for customers. Financial details of the transaction were not disclosed.
The agreement includes three patent applications and proprietary software code. The acquisition adds advanced data mining, semantic intelligence and machine learning to Benefitfocus’ existing Web-based platform.
Benefitfocus says BeliefNetworks’ unique content and analytic solutions will extend Benefitfocus’ current offerings to guide customers in making informed decisions about their benefit elections. In addition, BeliefNetworks’ technology will enable Benefitfocus to identify emerging trends and behaviors of interest to both consumers and insurers.
For example, consumers can opt to have the content of their individual health profile scanned in order to receive recommendations for benefit selection and suggest behavior changes to improve their personal health and wellness. All recommendations adhere to HIPAA regulations.
BeliefNetworks CTO, Ted Tanner, Jr., a veteran of several successful Silicon Valley startups who has also held architect positions at Apple and Microsoft, joins the Benefitfocus team as vice president of Core Systems. Lisa Maki, president of BeliefNetworks and formerly of Microsoft’s Incubation and Research Division, assumes the role of the director of Design Management. The rest of the BeliefNetworks team becomes part of the Benefitfocus Research and Development division.
“Semantic intelligence will redefine the healthcare industry by proactively connecting consumers, insurers and benefit plans to promote personalized coverage and support for healthy behaviors,” said Shawn Jenkins, Benefitfocus president and CEO. “We are fortunate to have obtained this technology from one of the leading companies in the field.”
Benefitfocus offers employers, health and voluntary carriers, brokers and consumers a single Web-based platform for benefit shopping, enrollment, management and industry-standard data exchange. I
Tags: Acquisitions, BeliefNetworks, Benefitfocus, Charleston, health benefits, Healthcare, Internet, Jr., Lisa Maki, SC, semantic intelligence, Shawn Jenkins, Ted Tanner
Posted in Acquisitions, Carolinas, Internet/New Media, IT, South Carolina | Comments Off
Monday, June 7th, 2010
 NAPLES, FL – An organization for principal investigators in the sciences has received “A gusher of creative tactics,” for stemming the Gulf oil flow after issuing a call for ideas in its weekly ezine.
The Principal Investigator’s Association, based in Naples, received 250 suggestions in 24 hours after asking its 300,000 ezine readers to suggest innovative ideas for dealing with the massive environmental disaster.
“We figured the 300,000 recipients of our ezine cover all fields of research, so they could generate some ‘outside-the-box’ thinking to get that Gulf oil blowout harnessed.” said Leslie C. Norins, MD, PhD, president of the association.
On June 4, in an “emergency” edition of its P.I. e-Zine asked for “nuggets” of innovative solutions. Response was immediate, reported Norins. Within the first 24 hours, over 250 submissions were received.
Five themes predominated in the thoughtful proposals: crimping the pipe, explosives, freezing, inserting inflatable or expandable objects, and capturing the rising oil in discarded vessels inverted over the gushing oil.
The “crimper” faction maintained the pipe never should have been sawed off cleanly. Rather, it should have been slowly crimped at various points till outward flow was reduced sufficiently for easy capping or cementing.
“Explosives” advocates were quite confident their devices would collapse and stop the well. The conventionalists wanted “bunker buster” bombs, or torpedoes fired into the pipe. A surprising number of experienced scientists advocated tactical nuclear weapons, asserting the overlying ocean would shield all radioactivity.
The propensity of oil to gum up or solidify when very cold led several to suggest copious use of liquid nitrogen. A variant was liquid oxygen, which proponents said would also nourish the biosystem as it dissolved in the water.
Many drew on medical analogies with cut arteries, to recommend insertion into the pipe of inflatable balloon catheters, or inverted “umbrella” devices inserted point first, and then expanded within the pipe.
A final group proposed buying time, by temporarily collecting the rising oil in inverted old tankers or water towers, tethered over the gusher and periodically harvested for collected oil.
The list of suggestions was forwarded to the White House and BP.
Tags: ezine, Florida, Gulf oil flow, Internet, Principal Investigators Association
Posted in Florida, Internet/New Media | 2 Comments »
Friday, June 4th, 2010
 WASHINGTON, DC – It seems like the big Internet companies such as Google and Facebook stir up some new controversy with just about every move they make. Now, as Google deals with its European data grab problem, two consumer groups have asked the U.S. Federal Trade Commission to investigate the search engine giant’s purchase of Invite Media, an online display ad company.
Consumer Watchdog and the Center for Digital Democracy say Google’s plans to buy the company for $70 million raise substantial competitive and privacy concerns.
“The ink is hardly dry on Google’s questionable AdMob acquisition,” said John M. Simpson, consumer advocate for the nonprofit, nonpartisan group, “and the Internet giant is forging ahead with an insatiable appetite for more. When is enough, enough?”
Simpson and the Center for Digital Democracy’s Jeff Chester said that combining Invite Media’s database with the information Google gathered though the $750 million AdMob deal and the earlier DoubleClick acquisition raised substantial privacy concerns. The deals give Google unprecedented access to consumers’ personal data. The Invite purchase appears to be anticompetitive, they said.
“The FTC blinked in the face of Google’s Washington clout on the AdMob deal,” said Simpson. “It’s time for the Commissioners to stand firm and give Google the scrutiny it deserves.”
Consumer Watchdog, formerly the Foundation for Taxpayer and Consumer Rights is a nonprofit, nonpartisan consumer advocacy organization with offices in Washington, DC and Santa Monica, CA.
It has created a Google Privacy and Accountability Project website: insidegoogle.com/
The Center for Digital Democracy (CDD) say it is dedicated to ensuring that the public interest is a fundamental part of the new digital communications landscape.
Tags: Acquisitions, AdMob, Center for Digital Democracy, Consumer Watchdog, DC, Google, Internet, Invite Media
Posted in Acquisitions, Government/Defense, Internet/New Media, Legal | Comments Off
Friday, June 4th, 2010
 By Jean Kelley
For any business, effective networking is an essential component to success. Today, though, the landscape of business networking has changed dramatically. No longer does business networking exclusively involve standing in a crowded room of people, meeting and greeting with total strangers, and exchanging numerous business cards. While such traditional networking is still valid and effective, e-networking done via business social networking sites is just as valuable.
Regardless of what anyone thinks about social networking sites, the fact is that they are here to stay. Sure, they’ll evolve over the years and will likely look very different than they do today, but ultimately they’ll still exist. And while purely “social” social networking sites can have a business aspect to them, it’s important for business owners, executives, and managers to have a strong presence on the tried and true business networking sites (example: LinkedIn).
Why? Because your clients, customers, colleagues, and others look to business networking sites for evidence of your character. For example, when a prospect is thinking about doing business with you, he or she will likely do a social media search for you.
Never before did average people have the ability to research anyone or any company they wanted. While in the past background checks were expensive and time-consuming, these days a few mouse clicks and keystrokes can pull up a goldmine of information. That’s why you and your company need to be on business networking sites…and you need to be using the e-networking sites effectively.
The following suggestions will help you become a savvy e-networker with a positive online presence.
- Don’t be a contact collector; be a contact cultivator.
The goal of any networking endeavor is to build relationships, not just to collect business cards. E-networking is no different. If you’ve been on any business networking sites, you’ve likely seen people with 500+ connections. At first you may think, “Wow, that person sure knows a lot of people.” But does he or she really know those connections? Or is this person just collecting contacts?
Rather than accepting and sending invitations to anyone, be mindful of whom you connect with. When you do make a connection with someone, look over his or her profile and then add a personal note to the person where you indicate a shared interest, club, affiliation, etc. For example, you could respond to someone by writing, “I see you attended Northwestern University (or are a member of the Miami Business Association, or have a pet beagle…). I have a similar interest in that I (also attended Northwestern…am a member of the Tulsa Business Association….have a dog named Snoopy…etc.). You get the idea. Find a shared interest to build up
Many people think they’re going to get business from being on social media sites. While you can get business from your online activities, this shouldn’t be your ultimate purpose. Rather, your purpose should be to make people aware of who you are by sharing your expertise.
Any business networking site is a place for you to give, not just to get. So to get business from your e-networking activities, you have to contribute meaningful content. You can find many groups to belong to that have strong conversations going. If you post something in the discussion that’s smart and useful (good content), then chances are someone will ask to connect with you. Now you have more people to share your message with.
Other examples of good content are asking thought-provoking questions, posting a motivational quote, and sharing a business tip. No matter what you post, if you get a reply, acknowledge the person for their feedback or contribution. Just as you can’t take people for granted in the brick and mortar world, you can’t take them for granted in the virtual world either. Everyone who reacts to your content is a potential relationship and you need to treat them as such.
When you’re replying to a question someone else poses, try to answer in the early part of the conversation rather than after 100 others have already replied. You want your answer to be in that first page of results. That way anyone who replies after you sees your photo and business information every time. With that said, pay close attention to what the question is and don’t answer anything capriciously. Always remember that your reply is posted forever.
- Add some personal flair to your profile.
Even though this is business, it’s okay to put some personal flair to your profile. After all, no one is all business all the time. Chances are you have some interesting hobbies or other areas of your life that people find intriguing. For example, maybe you collect antique cars, breed prize-winning poodles, tend a vineyard in your backyard, or have the city’s largest yo-yo collection. These are interesting tidbits of yourself that you can weave into your profile to make you appear more “real.”
Additionally, look at the tools and widgets the business networking sites make available to you and use them. You can do such things as post your reading list, link your blog, upload your Twitter feed, and many others. People can get to know you by these additional applications. Even better, they’re very user-friendly and easy to integrate into your business networking persona.
A New Twist on an Old Tool
We are currently in the biggest social media experiment in the world. Those who embrace business e-networking now are essentially the pioneers who will shape how this tool gets implemented and how it evolves. As you move forward, however, remember that your involvement with business networking sites should be just one small aspect of your business building efforts; it’s definitely not an end-all approach for getting business. Essentially, when you use today’s business e-networking tools effectively, you’ll have one more way to connect with clients and prospects so you can build your business and boost your bottom line.
About the Author:
Jean Kelley is president and founder of Jean Kelley Leadership Consulting and Jean Kelley Leadership Alliance. She works with corporate leaders all over the world to achieve their highest potential. With her Alliance, Jean has helped more than 500,000 businesspeople enhance their careers. She is the author of “Dear Jean: What They Don’t Teach You at the Water Cooler,” and “Get A Job; Keep A Job Handbook.” For more information, see: www.jeankelley.com
Tags: Business advice, Internet, Jean Kelly, social networking, tips on becoming a savvy social networker, Viewpoint
Posted in Alabama, Arkansas, Business advice, Carolinas, Columns, Florida, Georgia, Internet/New Media, Kentucky, Marketing, Maryland, North Carolina, Other SE, Potomac, South Carolina, Tennessee, Viewpoint, Virginia, Washington, DC, West Virginia | Comments Off
Tuesday, June 1st, 2010
 WASHINGTON, DC – The “Quit Facebook” campaign turned out to be a dud, with fewer than 30,000 people — an insignificant number of the site’s 400 million users– committing to drop the free social networking service on Memorial Day. We wonder how many of those people actually did drop the service.
A study by from interactive research and technology firm Vision Critical, however, found that 81 percent of the people it surveyed said they now used Facebook more carefully and 76 percent said they are not sharing as much personal information as they used to.
Meanwhile, although Facebook simplified its privacy settings in the face of rising criticism the last week in May, it apparently opened a can of digital worms with its clumsy handling of privacy issues and still faces Congressional scrutiny.
The U.S. House Judiciary Committee has sent a letter to Facebook founder and CEO Mark Zukerberg Friday saying, “We would appreciate a detailed explanation of the information about Facebook users that your company has provided to third parties without the knowledge of the account holders — particularly in circumstances in which the users did not expressly opt for this kind of information sharing.”
It also requests an explanation of prior policies and how the recent changes may have altered those policies.
Personally, we enjoy the service, but we have not bought into Zuckerman’s idea of sharing everything and keep our privacy settings carefully managed.
Tags: facebook, Internet, privacy concerns, social networking
Posted in Internet/New Media, Legal, Potomac, Washington, DC | Comments Off
Tuesday, June 1st, 2010
 ATLANTA – Kudzu Interactive, owners of Snapfinger.com, the leading online and mobile ordering and e-commerce solution, has closed a a $7 million Series B funding round led by Norwest Venture Partners.
Additional funding commitments came from existing high net worth investors. The company has raised $11 million total to date.
The new funding will support aggressive sales and marketing initiatives and expand the business in a number of different areas, including mobile and iPad product development and real-time transaction based marketing features. With today’s announcement, Josh Goldman and Jeff Crowe, general partners at NVP, will join Kudzu Interactive’s board of directors.
Founded in 2004, Snapfinger enables users to access more than 28,000 restaurants from leading national chains such as California Pizza Kitchen, Outback Steakhouse, and Boston Market, as well as local independent restaurants currently in its network.
The product uses location-based technology to find nearby restaurants and enables the user to order food and complete the payment transaction in a matter of minutes.
Snapfinger is fully synchronized with the restaurant’s POS (Point of Sale) system, ensuring order accuracy, real-time menu updates and accurate prep times.
“Kudzu Interactive uniquely intersects three of the hottest consumer Internet sectors today: e-commerce, mobile computing and local search marketing,” said Josh Goldman, general partner at Norwest Venture Partners.
“Kudzu Interactive reached profitability and grew revenues 420% in 2009,” said Jim Garrett, founder and CEO.
“We chose to raise capital now to solidify our leadership position and feel strongly that the next 18 months will give us the opportunity to own the online and mobile ordering space for casual dining.”
Tags: Atlanta, funding, Internet, Kudzu Interactive, location based services, mobile, Norwest Venture Partners, Snapfinger
Posted in Georgia, Internet/New Media, Money, Telecommunications | Comments Off
Tuesday, May 25th, 2010
SOUTHEAST – Google disclosed the economic impact of its Web advertising and other activities throughout the U.S. at a series of events Monday, revealing that Florida and Georgia benefited most in the Southeast. Florida, Google says, gained a whopping $3.2 billion, while Georgia saw $1.4 billion in total economic value generated by the search engine giant, the company said.
According to the Google reports, Florida generated that much value via 119,000 Web businesses, publishers, and non-profits that received grants.
Georgia boasts 48,200 advertisers, publishers and non-profit grant recipients.
Other Southeastern states and DC also racked up substantial economic value from their Google-related operations.
North Carolina’s 39,600 publishers and advertisers and non-profits generated $778.6 million in total economic value, according to the Google reports, while South Carolina saw $254 million generated by 15,000 businesses and organizations.
In the Potomac region, Virginia leads the parade with a total economic value of $962 million from 39,400 advertisers, publishers and others.
Maryland’s 31,100 Google-associated businesses churned out $795 million in economic value, while in DC, 5,800 businesses created $254 million in Google-related economic value.
Google’s economic impact map lets users see results from any state in the survey. See:
Full report
Tags: DC, economic impact, FL, Google, Internet, Marketing, MD, NC, SC, VA
Posted in Carolinas, Economic Development, Florida, Georgia, Internet/New Media, Marketing, Maryland, North Carolina, Potomac, South Carolina, Studies, surveys, reports, Virginia, Washington, DC | Comments Off
Monday, May 24th, 2010
 Novak Biddle Partner's Phil Bronner, a director on ePals board HERNDON, VA – E-learning company ePals has raised more than half of a targeted $12 million round from 18 investors so far. The company has raised nearly $7 million in the equity and securities offering , according to a regulatory filing.
Principals listed in the filing with the U.S. Securities and Exchange Commission include Phil Bronner of Novak Biddle Partners, Jean Case, Mitchell Kapor, and Miles Gilburne.
The company merged with In2Books in January 2007 to create what is says is the “world’s largest K-12 e-learning network.”
It offers primary and secondary schools, teachers, students and parents worldwide a safe and secure platform for building educational communities, providing quality digital content and facilitating collaboration for effective 21st century learning. ePals is used by more than 600,000 educators and reaches more than 25 million students and parents in 200 counties and territories.
The company’s Web site lists the following investors:
Miles Gilburne and Nina Zolt; Steve and Jean Case; Mitchell Kapor, Founder, Lotus; chair, Mozilla Foundation; chair, Second Life; National Geographic Ventures; Microsoft Corporation; Ted Leonsis; Yossi Vardi, Int’l Technologies Ventures; fomer chairman, ICQ; John Kao, Fellow, Royal Society of Arts; entrepreneur; author, Innovation Nation & Jamming; Nancy Peretsman, EVP, managing director, Allen & Co. Jesselson Capital; Sandy Lange, Partner, Hilan Capital; former chairman & CEO Pictorial William Raduchel, Former CTO, Time Warner; CSO, Sun Microsystems; Steve Arnold. Lucas Foundation.
Now that’s a formidable list of people to have backing your company. We’ve noticed that many of these folks, including Steve and Jean Case, Miles Gilburne, and Ted Leonsis, for instance, tend to invest in projects together.
Tags: e-learning, ePals, financing, Internet, Miles Gilburne, Mitch Kapor, Novak Biddle Partners, Phil Bronner, Steve and Jean Case, Ted Leonsis, Virginia
Posted in Internet/New Media, IT, Money, Potomac, Virginia, Washington, DC | Comments Off
Monday, May 24th, 2010
 CHEVY CHASE, MD – TownFlier Inc., a company offering free online classified advertising, has raised a $500,000 round of equity from one investor, probably Novak Biddle Partners, according to a regulatory filing.
According to the filing with the U.S. Securities and Exchange Commission, principals include Philip Bronner, a general partner at Bethesda-based Novak Biddle Partners, a dirctor, and Morris Panner, president and director.
Panner has served as COO of NetwSuite Inc.’s OpenAir since 2001. He was previously an attorney with the U.S. Department of Justice in DC.
TownFlier.com presents visitors with a map of the East Coast and a place to type in a location and select a type of service. The user can then search for free ads in sections such as jobs, events, sale items, and housing. It also allows user to post free ads.
The site did not turn up any ads for cars, apartments or housing in several key cities we tried, which suggests the site is relatively new.
It appears to be a variation on Craigslist, but it may need more than $500,000 in backing to compete with that company’s well established and well known classifieds operation.
Tags: financing, Internet, Maryland, Novak Biddle Partners, TownFlier
Posted in Internet/New Media, IT, Maryland, Money, Potomac | Comments Off
Tuesday, May 18th, 2010
 ATLANTA – Interactive Advisory Software (IAS), a company selling a browser-based solution enabling financial advisors to simplify their workload and provide greater service to their clients, has raised nearly $2 million in follow-on financing, according to a regulatory filing.
IAS says its system is built utilizing a consistent, intuitive, visual interface and includes integrated, comprehensive financial planning; portfolio management; client relationship management; rebalancing, client portals and outsourced back office services.
The company raised $1 million in November from Atlanta’s Total Technology Ventures.
The company disclosed this financing in a filing with the U.S. Securities and Exchange Commission.
Tags: Atlanta, financing, IAS, Internet, IT, Total Technology Ventures
Posted in Georgia, Internet/New Media, IT, Money | Comments Off
Wednesday, May 12th, 2010
 RESTON, VA -Bank and credit card institutions experienced a decline in customer satisfaction for the second consecutive year as the economic environment weighed down consumer sentiment, according to a survey by digital measurement firm comScore.
On the positive side, the study also found that 64 percent of Americans now utilize online bill pay, an increase of 19 percentage points versus the previous year.
“It is evident that the economic climate of the past year has affected not only consumers’ attitudes and perceptions of their financial institutions, but also how they are interacting with them,” said Marc Trudeau, comScore senior director.
“As economic conditions begin to improve, it will be important for banks and other financial institutions to focus intently on improving customer satisfaction and brand loyalty in order to retain and grow market share. Those who are effective in doing so will be in the best position to take advantage of new opportunities in the market as the economy returns to form.”
In the past year, online bill pay has experienced substantial growth in consumer adoption with 64 percent of survey respondents reporting they use online bill pay, up 19 percentage points from the previous year. Automatic/recurring bill pay also witnessed significant growth in the past year with 52 percent of respondents now enrolled in the service, up 10 points from the previous year.
Tags: billpay, comScore, Internet, online banking, surveys
Posted in Internet/New Media, Potomac, Studies, surveys, reports, Virginia | Comments Off
Tuesday, May 11th, 2010
 CARY, NC – Intuit (Nasdaq:INTU), which sells Quicken, is buying Cary-based Medfusion for $91 million in cash. Medfusion, which uses Intuit software, helps healthcare providers communicate with their patients though online portals and other means.
Medfusion CEO and founder Stephen Malik will become a senior vice president and general manager at Intuit following the acquisition.
Medfusion’s headquarters will stay in Cary.
Intuit CEO Brad Smith said, “This transaction expands our software-as-a-service offerings with a solution currently used by more than 30,000 healthcare providers, the vast majority of whom are essentially small businesses.”
“The combination of Medfusion’s industry-leading patient-provider communication solutions and Intuit’s expertise in creating innovative solutions that improve the financial lives of small businesses and consumers, will help us create new solutions that make the clinical, administrative and financial side of healthcare easier for everyone,” he said.
Intuit notes that doctors who combine Medfusion’s tech with electronic medical records can qualify for a $44,000 government incentive.
Tags: acquisiitons, Cary, Healthcare, Internet, Intuit, NC, Stephen Malik
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Thursday, May 6th, 2010
 WASHINGTON, DC – HelloWallet just got fatter. The company has nabbed a $3.6 million funding led by Grotech Ventures along with an investment from Steve and Jean Case. The HelloWallet Web site helps users track and manage their personal finances and reach financial goals.
The company, which launched in March 2010, already provides its service through partnerships with companies and other organizations that employ or serve more than 3.5 million people.
Founded in 2008, HelloWallet touts several differences between its services and those of other financial management sites.
While other personal finance management solutions look backwards by focusing on spending history and trends, HelloWallet also looks forward to proactively uncover savings opportunities and potential threats for its members.
Unlike many financial management sites,HelloWallet does not allow banks to advertise or promote products, so its trusted recommendations are not influenced by any business interests.
HelloWallet is also pledging to give a free subscription to one needy family for every five of the site’s paying members. According to Brookings Institution research, American families lose an estimated $100 billion annually due to avoidable financial missteps. The company says it can save the average consumer about $600 a year.
Its members are provided with customized financial plans, 24/7 personal money management and monitoring, and an individualized bank shopper service, which looks at more than 50,000 different financial products to find better prices for its members.
HelloWallet also identifies financial health threats and savings opportunities for its members, helping them avoid costly financial missteps and make sustainable improvements in their financial health.
“A highly secure technology platform, supported by powerful proprietary analytics, provides an opportunity to deliver a low cost online solution to the eighty percent of Americans who do not have a financial advisor to guide them through their financial decision making,” adds Don Rainey, general partner of Grotech Ventures.
www.hellowallet.com
Tags: DC, financing, Grotech Ventures, HellowWallet, Internet, Steve & Jean Case
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