24/7 Customer

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[24]7
Type Private
Industry Information Technology services
Predecessors 24/7 Customer
Founded April 2000
Headquarters Campbell, California, USA
Key people PV Kannan, CEO
S. Nagarajan, COO
(Co-founders)
Products [24]7 Social, [24]7 Speech, [24]7 Vivid Speech, [24]7 Mobile, [24]7 Assist
Employees 9000
Website www.247-inc.com

24/7 Customer, Incorporated, doing business as [24]7, is an information technology service company with headquarters in Silicon Valley, USA.

Company[edit]

[24]7 Customer was founded in April 2000 by P V Kannan and Shanmugam Nagarajan. In 2003 it was privately funded with at least $7 million by Michael Moritz, and his venture capital firm Sequoia Capital.[1] The total venture funding was estimated at about $22 million, with the company reportedly profitable by the end of 2003.[2] It started offering e-mail services for customers such as AltaVista, and became an early adopter of voice over IP to save telephone costs.[3] Its many Indian employees, most college graduates, earned an equivalent of $2,800 to $8,000 a year, received training on regional accents and used assumed names to sound more familiar with customers.[4]

The company develops customer service-based software that focuses on big data, predictive analytics, and real-time decisioning. It integrates different channels of communication, such as web chat, and mobile Interactive voice response. It markets software as a service in its contact center operations for customers of large telecom, financial services, retail, technology and travel companies.[5]

The company is headquartered in Campbell, California. Other offices are located in the Covent Garden district of London and Sydney, Australia. Contact centers were originally located in Bangalore and Mehdipatnam, and the Philippines but by 2007 (with about 7000 total employees) expanded to Guatemala and Nicaragua to support Spanish Language customers.[6] By 2011, the end of Software Technology Parks of India tax credits and rising wages reduced the company's growth in India.[7]

In February 2012 a deal was announced in which Microsoft would license several patents for natural user interface technology, make an equity investment, and transfer about 400 employees of the former Tellme Networks to 24/7.[8] The same time, 24/7 acquired the call center automation developer Voxify, which had been based in Alameda, California and funded by investors such as Intel.[9][10] The company also at that time rebranded is business, adopting a new logo dropping the word "Customer" and putting square brackets around the "24".[11] In January 2013 it announced it would market some internally developed software products for combining chat with analytics.[12]

References[edit]

  1. ^ "Notice of Sale of Securities". Form D. US Securities and Exchange Commission. August 6, 2003. Retrieved October 23, 2013. 
  2. ^ Fred Vogelstein (November 24, 2003). "24/7 Customer". Fortune Magazine. Retrieved October 23, 2013. 
  3. ^ Julekha Dash (March 19, 2001). "Customer support moves overseas". Computer World. Retrieved October 23, 2013. 
  4. ^ Aaron Davis (November 9, 2003). "Educated young workers lose accents, work cheap". San Jose Mercury News. 
  5. ^ "eWorld People: Riding out the bumps". Hindu Business Line. January 24, 2011. Archived from the original on March 15, 2011. Retrieved October 23, 2013. 
  6. ^ Chandler Harris (August 12, 2007). "Los Gatos outsourcer finding success with nearshore sites". Silicon Valley Business Journal. Retrieved October 23, 2013. 
  7. ^ Ayushman Baruah (March 18, 2011). "Changing Dynamics of BPO industry in India". Information Week India. Retrieved October 23, 2013. 
  8. ^ Mary Jo Foley (February 7, 2012). "Microsoft offloads some speech-focused assets, employees to 24/7". All About Microsoft blog (ZDNet). Retrieved October 23, 2013. 
  9. ^ Deborah Gage (February 7, 2012). "In Customer Service Push, Microsoft Invests In 24/7, Which Acquires Voxify". Venture Capital Dispatch (Wall Street Journal). Retrieved October 23, 2013. 
  10. ^ Chris Morrison (February 13, 2008). "Voxify raises $15M for voice recognition systems". Venture Beat. Retrieved October 23, 2013. 
  11. ^ "Microsoft and 24/7 Inc. Join Forces to Deliver the Future of Customer Service for Large Businesses". Press release (24/7 Customer). February 7, 2012. Retrieved October 23, 2013. 
  12. ^ Ayushman Baruah (January 23, 2013). "[24]7 makes product debut with live chat solution". Information Week India. Retrieved October 23, 2013. 

External links[edit]