Continued Growth for Developer and Distributor of RSS Shopping Services for Merchants, Bloggers and Consumers
Dr. Henrik Sandell Joins as Technology and Operations Advisor
Boston , MA, Sept. 6, 2006 -- Offertrax, a developer and provider of RSS (Really Simple Syndication) based shopping applications for merchants and consumers, announced it has received additional growth and advisory capital from The Boston Associates, a venture development organization based in Boston. Terms were not disclosed. This funding will allow Offertrax to expand its development and marketing efforts as it prepares to launch its first product later in 2006. In addition, Dr. Henrik Sandell, a partner at The Boston Associates, has joined the company as an advisor.
Offertrax will anonymously connect consumers and merchants online and allow them to benefit from the social shopping phenomenon and leverage the growing adoption of RSS (Really Simple Syndication). For merchants, Offertrax will increase site conversions by helping consumers track items that interest them and be alerted to specific offer changes and purchasing opportunities. Offertrax will build buying groups around individual products and categories developing a targeted new lead system for online merchants. Importantly, the unique design of Offertrax will also allow consumers to share their tracked offers, and then lead others to desirable purchases based upon their "trails" be it via the Web, their mobile phone, or other handheld devices.
"We continue to enhance our product and build our development team" said Offertrax Co-Founder Ben Carcio . "The new funding will accelerate our rollout. We`re also delighted to welcome Dr. Henrik Sandell, whose extensive experience in building scalable Internet companies will immediately benefit our users".
Dr. Sandell is a partner at The Boston Associates and was most recently Chief Operating Officer of Acadient, a successful online education company. Previously, he was a founding executive of Insurance.com, funded by Fidelity Investments and now America`s largest independent online insurance agency. He has also held positions with Coopers & Lybrand Consulting (now IBM Global Services), Lotus Development Corporation, and GTE Laboratories. Dr. Sandell earned a Ph.D. from Vanderbilt University in Nashville on a Fulbright grant, and an M.Sc. degree from the Royal Institute of Technology in Stockholm, Sweden.
Based in Boston, Offertrax is a newly formed developer and distributor of RSS (Really Simple Syndication) shopping services. The company is privately held. Offertrax will release its new smart shopping tool for merchants and consumers in 2006. For more information, please visit www.offertrax.com.
About The Boston Associates
Based in Boston, The Boston Associates is a venture development organization focused on developing digital companies benefiting the world`s consumers. For more information, please visit: www.bostonassociates.com.
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