NexTag

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Nextag, Inc.
Type Private
Industry Comparison Shopping
Founded 1999
Headquarters San Mateo, California, United States
Key people

Jeffrey G. Katz, president

Rafael Ortiz, founder
Employees 200+ (2011)
Website Nextag.com

Nextag is an independent price comparison service website for products, travel, and education.[1] Catagories include: Baby, Books, CDs/DVDs, Clothing & Accessories, Collectibles & Art, Computers & Software, Electronics, Flowers & Plants, Food & Wine & Baskets. Health & Beauty, Home & Garden, Jewelry & Watches, Office Products, Sports & Outdoors, and Video Games & Toys.[2] It started originally as a website where buyers and sellers could negotiate prices for computers and electronics products. The current business model with a focus on comparison shopping has existed since 2000.[3]

Nextag has a total of 30+ million users each month that makes online purchases using their site, with 80% of them being unique. [4] Nextag sees itself as "the #1 independent site for comparison shopping."[5] In June 2007, Providence Equity Partners purchased a two-thirds majority of the company.[6] Nextag provides merchants with various services including automated ROI tracking system, promotional messaging platform for easy implementation of voucher codes and marketing messages, and Buyer Reviews and Trusted Seller program. [4]

Nextag's headquarters are in San Mateo, California.[7] Additional offices are in London, England, Tokyo, Japan, and Gurgaon, India. [8]

Mobile Application[edit]

In December 2010, Nextag launched their very own Android and iOS application. Several of the features include: barcode scanning to quickly search for the best price from thousands of merchants, store locator to locate products sold in surrounding areas, speedy searches to search for the lowest and most affordable price, brand, seller ratings, and more, wish lists for users to create lists that can be shared and stored, and innovative image recognition technology for quick searches using pictures. [9][10]

Awards and Recognition[edit]

It was ranked by Time magazine as one of the fifty best websites of 2008.[11] Time magazine called Nextag the "plainest comparative-shopping site on the Web", but commended it for quick and comprehensive shopping search results. Nextag not only provided customers with product reviews, but also, it provided the price history for each product. Other notable achievements include being listed in the Deloitte Technology Fast 500/Fast 50, Red Herring Top 100, San Francisco Business Times Fast 100, and the Silicon Valley/San Jose Business Journal Fast 50. [12]

Acquisitions[edit]

In November 2010, Nextag announced the acquisition of nextcoupons.com, a Santa Monica-based coupon company.[13] This was a way for Nextag to bring in more talent and resources. [14] In April 2011, Nextag acquired Germany's Guenstiger.de GmbH, the leading online comparison shopping website in Europe's market. [15] In October 2011, Nextag acquired thingbuzz, a real-time social shopping platform that tracks the conversation about products in the social media sphere, in a bid to socialize the online shopping experience for its users.[16] At the very end of that very year, FanSnap was acquired by Nextag. [17] This was the fifth acquisition in only 15 months. According to Nextag CEO Jeffrey Katz, these acquisitions enabled Nextag to be a one-stop ecommerce shop for various products including tickets. In December 2013, Nextag was acquired by SeatGeek, which is a ticket search engine headquartered in New York City, NY.[18]

Controversy[edit]

CEO Jeffrey Katz accused Google of being a monopoly and killing small business competitors. Katz published an opinion piece clearly stating that users end up only seeing top search results that have been sponsored by companies. He claims that companies are able to pay Google for "that privilege." Google did respond with stating that there is choice online and that "there has never been as much choice online as there is today." Google responded back noting that their advertisements are always marked clearly so users are able to see the sponsorship. Katz really stressed ending the bias of the search results and to provide consumers with neutral search results. [19]

External links[edit]

References[edit]

  1. ^ About Nextag Retrieved on 2014-11-13
  2. ^ Nextag Products Retrieved on 2014-11-13
  3. ^ Marshall, Matt. "Surviving, Thriving. Ojha's Determination Helps Rescue Nextag from Dot-Com Crash“. San Jose Mercury News. 8. April 2005. Retrieved on 2008-09-23
  4. ^ a b Nextag Merchants Retrieved on 2014-11-13
  5. ^ Nextag Facebook About Retrieved on 2014-11-13
  6. ^ Delaney, Kevin (2007-06-09). "NexTag Sells Stake to Private Equity". Wall Street Journal. Retrieved 2008-09-16. 
  7. ^ Businessweek Profile Retrieved on 2014-11-13
  8. ^ CrunchBase profile Retrieved on 2014-11-13
  9. ^ Nextag on Android Retrieved on 2014-11-13
  10. ^ Nextag on iOS Retrieved on 2014-11-13
  11. ^ Hamilton, Anita (2008-06-17). "NexTag (in "50 Best Web Sites of 2008")". Time Magazine. Retrieved 2010-12-05. 
  12. ^ NexTag(R) Named Among the Top Fastest Growing Companies in 2005 Retrieved on 2014-11-13
  13. ^ CPC_Andrew. NexTag Acquires Online Coupon Provider, NextCoupons.com CPC Strategy 2010-11-09. Retrieved on 2014-11-13
  14. ^ Wauters, Robin Nextag Acquires Online Coupon Provider NextCoupons TechCrunch 2010-11-08. Retrieved on 2014-11-13
  15. ^ Rao, Leena NexTag Acquires German Comparison Shopping Site Guenstiger.de TechCrunch 2011-04-26. Retrieved on 2014-11-13
  16. ^ "Nextag Socializes Online Shopping with Thingbuzz Acquisition". prnewswire. Retrieved 13 November 2011. 
  17. ^ Constine, Josh. Ticket Search Engine FanSnap Acquired By Shopping Site NexTag, But Employees May Get $0 TechCrunch 2011-12-08. Retrieved on 2014-11-13
  18. ^ CrunchBase profile Retrieved on 2014-11-13
  19. ^ Lardinois, Frederic. Nextag CEO: Google Is A Monopoly; Google: You’ve Got Plenty Of Choice TechCrunch 2012-06-08. Retrieved on 2014-11-13