Broadbase Software: Getting Closer to the Customer
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Life as a global corporate giant gets tougher and tougher. To stay ahead requires emphasis on cutting-edge technologies. This trend has benefited tech companies that are leveraging the Net.
One company that Fortune 1000 companies are turning to for help is Broadbase Software (BBSW). The company develops technologies that help companies get closer to customers, that is, by analyzing customer buying patterns and then using this information to enhance marketing efforts. Interestingly enough, many online companies have no clue who their customers are. Broadbase changes this.
Before the NASDAQ collapsed, Broadbase was able to raise $250 million in a secondary offering. Actually, in this secondary offering, none of the company's venture capitalists sold their shares. In fact, Broadbase's VCs are quite prominent, such as Benchmark Capital.
The company is starting to gain traction. Revenues in the latest quarter were $6.3 million, which was a 324 percent rise from the same quarter last year and a 52 percent sequential increase.
Another acquisition was for Rubric. The company is a leading developer of Web applications that deal with such things as customer acquisition and retention. In other words, this helps companies leverage the valuable information that is mined with Broadbase's applications. Part of the deal, Broadbase picked-up such customers as Cisco and BEA Systems.
Broadbase has also struck key alliances. For example, Hewlett-Packard will resell Broadbase applications to its worldwide customer base. Or, there is the alliance with Art Technology Group, which is a developer of personalization capabilities.
No company can go far unless it has a deep understanding of its customers. With this, companies can then develop effective marketing campaigns. In the fast-paced world of global competition, Broadbase is definitely in a great position.
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