Dun & Bradstreet Credibility Corp

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Dun & Bradstreet Credibility Corp
Type Private
Founded New York City, New York 1841 & Malibu, California 2010
Headquarters Malibu, California, U.S.
Key people Jeff Stibel, Chairman & CEO.
Products Business information, services,
Website www.dandb.com

Dun & Bradstreet Credibility Corp is a private company headquartered in Malibu, California, USA that provides credit and credibility solutions for businesses throughout the U.S. and Canada. The company was formed in July 2010 when it acquired the North American Credit-on-Self division, also known as the Self Awareness Solutions (SAS) operating unit, of Dun & Bradstreet[1] after raising approximately $200M from Great Hill Partners.[2] Internet entrepreneur Jeff Stibel is the Chairman and CEO.[3][4]

History[edit]

In 2010, Dun and Bradstreet, formed in 1841, spun off assets that merged with newly created Credibility Solutions to form Dun & Bradstreet Credibility Corp, an independent company focused on credit and credibility for small businesses. The company has grown from 8 employees to over 600 since becoming an independent entity in 2010. Dun & Bradstreet said Dun & Bradstreet Credibility is a 'separate legal entity' that pays D&B royalties for certain intellectual-property rights. These include "a perpetual license to use the D&B brand".[5][6]

On February 21, 2014, D&B Credibility Corp filed suit in New York State Supreme Court over the contentious relationship that exists between them and D&B. D&B Credibility Corp alleges that D&B is sabotaging the relationship because they are not happy with what D&B Credibility is doing with the D&B trademark, believe the royalties to be too low, and were upset by an unsolicited offer for D&B Credibility Corp to acquire D&B. The private offer was rejected without presenting it to shareholders. The case is Dun & Bradstreet Credibility Corp. v. Dun & Bradstreet Inc., 650568/2014, New York State Supreme Court, New York County.

Products and Services[edit]

Dun & Bradstreet Credibility Corp products and services[7] include the DUNSFile, which establishes a business’s DUNS number, the CreditBuilder, which helps businesses monitor and build their credit, giving them full access to the D&B scores and reports, and adding credit references, the CreditAdvisor, which allows the businesses to see other company’s reports and receiving email alerts when competitors’ credit changes, Credibility Review, which allows businesses to control what others see about them and CreditSignal, a free product offering which provides companies with alerts, informing them of changes in their D&B credit scores and ratings.

Failure wall[edit]

The company maintains a "failure wall" to acknowledge and learn from company and employee mistakes and failures.[8] The failure wall first came about when Stibel had the idea to create a wall on which employees, himself included, would be able to write out a failure they had experienced.[9][10]

Controversy[edit]

The company had received some complaints from small businesses for their high pressure sales tactics[11] including three businesses who raised questions about where the company was unfairly preying on their anxieties. [6] This matter is now the subject of a lawsuit.[12]

Attempted acquisition of Dun and Bradstreet[edit]

In 2013, Dun and Bradstreet Credibility Corporation and “two of the world’s largest private equity firms” proposed to acquire Dun and Bradstreet Inc. for a price ranging from $115 to $125 a share. Dun and Bradstreet Inc. rejected the offer, and the parties are now in litigation in New York.[13]

References[edit]

  1. ^ "Dun & Bradstreet Credibility Corp. Announces $100M Strategic Acquisition; Company Secures $100M of Additional Financing". MarketWire. Retrieved July 29, 2010. 
  2. ^ "Interview with Jeffrey Stibel, Dun & Bradstreet Credibility Corp.". SoCalTech. 
  3. ^ "Remaking Dun & Bradstreet for the Internet Age". Business Week. 
  4. ^ "Management Team". Company Website. 
  5. ^ "Company History". Dun and Bradstreet Credibility Corp. 
  6. ^ a b Lublin, Joann S. and Loten, Angus (June 20, 2013). "Small Businesses Seethe at Credit Service Using Dun & Bradstreet Name". Wall Street Journal. 
  7. ^ "Products". Company Website. 
  8. ^ "Malibu firm's Failure Wall lets workers earn from their mistakes". The Los Angeles Times. 
  9. ^ "How One CEO Created a "Failure Wall" to Build a Tolerance for Failure Within His Organization". Mathew S. Hunt. 
  10. ^ "Failure Wall". HuffingtonPost.com. 
  11. ^ Said, Carolyn (September 13, 2012). "DBCC high-pressure tactics generate complaints". San Francisco Chronicle. 
  12. ^ Loten, Angus and Lublin, Joann (January 20, 2014). "Credit Monitor's Hard Sell Under Scrutiny". Wall Street Journal. 
  13. ^ Dolmetsch, Chris (February 21, 2014). "Dun & Bradstreet Sued Over Sale of Credit-Monitor Firm". Bloomberg. 

External links[edit]