Demand for Company's Active Product Tours Growing at Record Pace
Pleasanton, CA — February 27, 2008 — SellPoint Inc., the leading provider of on-demand video product tours, announced today that it has secured $7 million in financing from Granite Ventures LLC and previous investor Menlo Ventures LLC. SellPoint will use this additional funding to fuel current momentum and expansion of its business.
SellPoint doubled its client roster in 2007. Key brands such as Brother, Canon, Epson, Fuji, Hitachi, Panasonic, Pentax, SanDisk, and TiVo choose the company's Active Product Tours™ to present their products to online shoppers. In addition, SellPoint added numerous retailers to its Retail Syndication Network, which includes over 100 of the top online retailers such as Amazon.com, Best Buy, Buy.com, Circuit City, Costco.com, OfficeMax, Sears, Staples, Toys R Us Wal-Mart and more.
SellPoint's Active Product Tours combine engaging product video with informative sales and support materials, and are accessible from the online product pages of all major online shopping venues. Shoppers choose to learn more about products by clicking on a “Take a Product Tour” button, and typically spend over 2.5 minutes engaging with the product. To view an example of an Active Product Tour, visit: http://syndicate.sellpoint.net/Syndicate/SynMaster?Tentoe=A76C31-40600
“Online video product tours continue to grow exponentially. Studies show that product tours have become a key factor in converting shoppers into buyers at the online point of sale,” said Standish O'Grady, Managing Director of Granite Ventures and new SellPoint Board Member. “Given this, our investment in SellPoint was an easy decision as it is the company positioned to lead this growing category based on its unique, patented Active Product Tour technology and the value it provides to consumers, manufactures and retailers.”
“2007 was a record-breaking year for SellPoint clients with shoppers choosing to view over 70 percent more rich product content provided by our Active Product Tours than last year,” said Rick Martin, SellPoint's CEO. “As more consumers look to online shopping venues first and expect engaging and comprehensive product information, the demand for dynamic, informative video tours will increase from retailers and manufacturers, and SellPoint is poised to meet that need.”
A recent Coremetrics study measured a 35 percent increase in the sales conversion rate among shoppers who viewed SellPoint's Active Product Tours vs. those who did not.
About SellPoint, Inc.
Based in Pleasanton, Calif., SellPoint, Inc. is the leading provider of on-demand video product tours, providing manufacturers of consumer products with controlled, consistent, and highly engaging product presentations syndicated across all of their online points of sale. SellPoint's patented Active Product Tours combine rich and engaging product images and video with a customizable array of sales support materials, transforming today's static product pages into an active selling presentation that is proven to motivate shoppers to buy. The SellPoint Dashboard delivers graphical market intelligence updated daily that reveals shopper interest and activity by product and sales channel. SellPoint's clients include Canon, Fuji, Epson, SanDisk, Panasonic, TiVo, Hitachi, Brother, Pentax, and more. SellPoint's Retail Syndication Network includes over 100 of the top online retailers, including Amazon.com, Best Buy, Buy.com, Circuit City, Costco.com, Wal-Mart, OfficeMax, Sears, Staples, Toys R Us and more. For more information, visit www.SellPoint.net.
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