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Aggregate Knowledge to Revolutionize How Consumers Discover and Purchase Online
MENLO PARK and SAN MATEO, CAalif., December 11, 2006 – Kleiner, Perkins, Caufield & Byers (KPCB) announced today a $5 million Series A investment in Aggregate Knowledge, the leader in Discovery Services for retail and media sites. Aggregate Knowledge’s Discovery Services are now commercially available.
Discovery is when something unexpected, yet surprisingly relevant, manages to find you. Unlike Search where consumers begin an inquiry with specific words, Discovery presents related items based on the behavior of others on a site. Amazon and Netflix realize significant revenues from their proprietary Discovery systems.
“Discovery is the next major category on the Internet, because it solves the problem of presenting consumers content and products they will engage with,” said Randy Komisar, KPCB partner. “Aggregate Knowledge is harnessing the wisdom of crowds to deliver additional revenue to retail and media sites. Their technology and business model advantages will make them the leader in this new category.”
“Whether on a media or retail site, customers know they’re certainly not the first person to have read a specific story or have liked a particular product,” said Paul Martino, founder, President and CEO of Aggregate Knowledge. “By tapping into the collective behavior of site visitors, our Discovery Services enable consumers to quickly identify products and content which they will find most interesting.”
Unlike enterprise software that takes months to deploy, Aggregate Knowledge is a realtime Web 2.0 service that deploys in days and offers customers a performancebased pricing model.