What Company Is Offering:
MyStrands develops technologies to better understand people's taste and help them discover things they like and didn't know about. MyStrands has created a social recommender engine that is able to provide real-time recommendations of products and services through computers, mobile phones and other Internet-connected devices.
They believe the future of the web is about personalization. Personalized TV stations, personalized news, personalized advertising, personalized shopping experiences, personalized music, no matter where you are or what you are doing. Social recommendation technologies allow MyStrands to build a number of engaging products for the end user, and to help different industries deliver personalized content, products, services and ads to their consumers. We have a strong focus on the mobile world.User to user recommendations and social recommendations will become the most effective online discovery and promotion vehicle for content, products and services in this era of increased availability of digital content and information about people's preferences.
How It Works:
MyStrands technology is based on human-generated links between items (songs, videos, products, etc) much the way Google uses human-generated links between web-pages. Complex networks of human-generated links between items are the best mechanisms to analyze how our society considers and uses the products it creates and consumes. Although the basic principles used to construct the networks are simple to understand, the sheer amount of data makes the networks themselves huge. These networks, which are the foundation of the MyStrands recommendation engine, provide great flexibility and power.
A critical focus of our recommendation technologies concentrates on organizing observations from people's behaviors and distilling that information in a way that can be leveraged into a useful purpose, representing knowledge of behavior as data and making it possible for electronic devices (computers, mobile phones and other Internet-connected devices) to access that knowledge.
When it comes to delivering personalized recommendations to individuals or groups, MyStrands' recommender engine considers that taste is context-sensitive and evolves over time. MyStrands provides real-time recommendations from the first user interaction without the need to ask the user to rate content or build a profile. Our technology can deliver relevant suggestions to first-time anonymous users as well as providing filtered, personalized results based on individual profiles.
How Much They Got From VCs:
MyStrands, a Corvallis, Ore.?based developer of a personalized discovery platform and social recommender engine, has raised $24 million in Series B-2 funding. Spanish bank BBVA led the round, and was joined by return backer Debaeque. The company has now raised a total of $55 million. www.mystrands.com
More at:http://www.mystrands.com/
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