|By Business Wire||
|May 13, 2014 07:00 AM EDT||
Swagbucks (swagbucks.com), the web’s leading rewards community – and its parent company, Prodege LLC – announced its first external capital round with a direct investment of $60 million from Technology Crossover Ventures (TCV). Swagbucks and Prodege executive chairman Chuck Davis will add the role of chief executive officer while founding CEO Josef Gorowitz becomes president.
Swagbucks CEO Chuck Davis (Photo: Business Wire)
Swagbucks rewards its members for everyday web discovery activity – including searching, shopping, entertainment, discounted offers, surveys, and games – delivering a robust platform for brands, advertisers, and marketers to establish valuable relationships with motivated consumers. The company has distributed over $60 million in free gift cards to consumers since its 2008 founding. Swagbucks offers gifts cards from over 300 ecommerce stores including Amazon, Wal-Mart, Target, Starbucks, and Paypal.
“Swagbucks first caught my interest in 2012 when I observed their impressive, entrepreneurial growth and diversified revenue model,” said Davis, who joined Swagbucks as executive chairman in January 2013. “Swagbucks has always put the consumer first by helping households get a little extra back and I am proud to build on that wonderful mission. Furthermore, bringing in TCV as the company’s first strategic investment partner and building on their experience in scaling leading digital brands is a good fit for Swagbucks and its profitable business.”
Davis was chairman & CEO of Fandango, the leading online movie ticket and entertainment site. While there, Davis oversaw its mobile launch and expansion making Fandango one of the most popular mobile ecommerce sites online. Comcast Corporation purchased Fandango in 2007. Previously, Davis was president & CEO of Shopzilla (formerly BizRate) through its $525 million sale to the E.W. Scripps Company. Davis currently is a venture partner at Technology Crossover Ventures and serves as executive chairman at The Teaching Company.
Additionally, Davis serves as a director at Boingo Wireless, is the immediate past international chairman of the Young President’s Organization, and is an entrepreneur in residence at Harvard Business School. Davis had prior executive stints at The Walt Disney Company (president, E-Commerce), News Corporation’s TV Guide, and Time Warner in addition to serving on the Brown University Corporation and the ecommerce industry’s Shop.org board of directors.
“TCV strives to back great entrepreneurs, providing tremendous value to online customers,” said Jay Hoag, founding general partner at Technology Crossover Ventures. “We are delighted to be investing behind him again, as he takes the helm at Swagbucks and builds upon the great work done at the company to date.”
Swagbucks has been profitable since 2010 and had $53 million in 2013 revenues, up 51% from 2012.
“Swagbucks has built a strong and successful business in a relatively short period of time,” said founder and president Josef Gorowitz. “We are thrilled to welcome two proven new additions to the team with Chuck and TCV as we strategically scale Swagbucks to new heights in the years ahead.”
Swagbucks.com is the web’s leading rewards discovery community and top provider of free gift card awards for everyday digital life, helping consumers stretch their household budgets. Headquartered in El Segundo, California under Prodege, LLC, Swagbucks is the original digital rewards currency for a wide variety of online activities including shopping, entertainment, surveys, discounts, games, search and more.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applicatio...
Feb. 28, 2015 05:00 PM EST Reads: 1,291
VictorOps is making on-call suck less with the only collaborative alert management platform on the market. With easy on-call scheduling management, a real-time incident timeline that gives you contextual relevance around your alerts and powerful reporting features that make post-mortems more effective, VictorOps helps your IT/DevOps team solve problems faster.
Feb. 28, 2015 05:00 PM EST Reads: 1,130
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, will discuss why containers should be paired with new architectural practices such as microservices ra...
Feb. 28, 2015 04:00 PM EST Reads: 1,345
Roberto Medrano, Executive Vice President at SOA Software, had reached 30,000 page views on his home page - http://RobertoMedrano.SYS-CON.com/ - on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, and SOA World Magazine. He is a recognized executive in the information technology fields of SOA, internet security, governance, and compliance. He has extensive experience with both start-ups and large companies, having been ...
Feb. 28, 2015 04:00 PM EST Reads: 1,046
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
Feb. 28, 2015 03:45 PM EST Reads: 2,179
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, de...
Feb. 28, 2015 03:30 PM EST Reads: 3,963
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
Feb. 28, 2015 03:15 PM EST Reads: 1,220
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Feb. 28, 2015 03:00 PM EST Reads: 2,150
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing...
Feb. 28, 2015 02:00 PM EST Reads: 1,199
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...
Feb. 28, 2015 01:45 PM EST Reads: 1,131
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, it is now feasible to create a rich desktop and tuned mobile experience with a single codebase, without compromising performance or usability.
Feb. 28, 2015 01:15 PM EST Reads: 1,015
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
Feb. 28, 2015 01:15 PM EST Reads: 2,386
SYS-CON Events announced today Arista Networks will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Arista Networks was founded to deliver software-driven cloud networking solutions for large data center and computing environments. Arista’s award-winning 10/40/100GbE switches redefine scalability, robustness, and price-performance, with over 3,000 customers and more than three million cloud networking ports depl...
Feb. 28, 2015 01:00 PM EST Reads: 1,478
Application metrics, logs, and business KPIs are a goldmine. It’s easy to get started with the ELK stack (Elasticsearch, Logstash and Kibana) – you can see lots of people coming up with impressive dashboards, in less than a day, with no previous experience. Going from proof-of-concept to production tends to be a bit more difficult, unfortunately, and it tends to gobble up our attention, time, and money. In his session at DevOps Summit, Otis Gospodnetić, co-author of Lucene in Action and founder...
Feb. 28, 2015 01:00 PM EST Reads: 1,249
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, will explain the best practices of continuous testing at high scale, which is r...
Feb. 28, 2015 01:00 PM EST Reads: 1,085