Start-up Open Ratings said it plans to launch an
independent rating service designed to “increase the level of trust,
reliability and brand recognition between buyers and sellers in online
business to business, consumer and auction marketplaces.”
The venture, which apparently would compete in some ways with established
player BizRate.com, had been operating under the code name “FairNetworks.”
Open Ratings said it will be a neutral, third-party, personalized e-commerce
rating
service that enables online businesses of all sizes to increase revenues and
reduce barriers to buying by building customer confidence and trust.
The
company said the service will empower buyers and sellers in auction
environments and B2B marketplaces by allowing both parties to rate each
other, as well as previous customers’ experiences.
Co-founded by MIT Media Lab e-commerce expert Pattie Maes and backed by Atlas
Venture and Nicholas Negroponte, Open Ratings plans to launch in March.
Open Ratings also will be offered as a distributed, co-branded service
through online partners that want to benefit from increased e-commerce and
provide their users with reliable information.
“Small businesses need the most help building their brands online because
they cannot afford to spend millions of dollars on advertising. Open Ratings
will level the playing field and allow even the mom-and-pop shops and unknown
auction sellers to educate potential buyers about their reliability and good
customer service,” said Maes.
“Our research shows that with a reliable,
independent rating service based on customer feedback, potential buyers will
feel comfortable buying from unknown but interesting
merchants.”
“We’re delivering a solution in which buyers can gain trust, sellers can make
more sales, and the Web becomes a safer environment for transactions,” said
Stanford A. Smith, chief executive officer, president and co-founder.
In determining the ratings, which are entirely based on customer feedback,
the service will weigh a variety of factors, including verification of
transactions and both the buyer and seller’s reputation, the company said.
Open Ratings said it protects users’ privacy by allowing raters to remain
anonymous.
Maes also works as an associate professor at MIT’s Media Laboratory, where she founded and
directs the Software Agents Group, and is principal investigator of the e-markets Special Interest Group.
She was a founder and director of Firefly Network Inc., one of the first
companies to commercialize software agent technology. Firefly was acquired by
Microsoft in 1998.
