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Strands Introduces Amazon-like Recommendation Engine
The recommendation engine Strands has released a new “Plug-and Play” product recommendation service that will allow online retailers to generate Amazon-like recommendations. eCommerce providers can implement the service through either the site’s API or with a widget plug-in, and Strands says that setup should take as little as 30 minutes.
Earlier this month Strands launched its flagship site, Strands.com, which sets out to “help people discover new stuff”. The new plugin aims to do the same for external eCommerce sites, while increasing profits in the process. The new service will be available with either a flat monthly fee or through a revenue share program.
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Strands Tries New Social, Relaunches
Strands, a Corvallis, Ore.-based startup that has shown success in the music social recommendation space, is relaunching Strands.com into a private beta online activity aggregation service. The company hopes to take the lifestreaming features offered by Web 2.0 darling FriendFeed a step further by adding the ability to build a “taste profile” based on your social media usage patterns.
Through the taste profile, Strands intends to battle the information overload from services such as Twitter and FriendFeed by using your online social circle to filter out relevant content you will find pertinent. “Hot Posts” will show you which online media items, such as news stories and videos, are currently popular among your friends to help you discover new things.
The company recently raised $55 million in capital and reports sales of $12 million in 2007. When I asked Jason Herskowitz, Strands’ VP of Social Media, how the company plans to monetize its new offering, he said Strands is merely looking for eyeballs to drive sales of its other offerings, such as Strands Social Player and Strands Business Solution.
I’m skeptical about how successful the new Strands.com service will be — it’s yet another service to sign up for and adopt. However, if implemented correctly, the service stands to bring the signal-to-noise ratio of lifestreams down to a tolerable level.
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Strands Expands Further With NetworthIQ Buy
Strands, a social recommendation startup whose core product is focused on music, today made another move aimed at expanding into other areas with an agreement to buy NetworthIQ for an undisclosed amount. With the acquisition of NetworthIQ, Corvallis, Ore.-based Strands is looking to further build its moneyStrands personal finance application by giving users quality recommendations based on their entire financial portfolio. Competing personal finance startup Mint is similar in functionality, but only gives recommendations based on individual aspects of a user’s financial situation.
Todays news comes on the heels of Strands’ acquisition of Expensr, also a personal finance application. Over the last six months, funding for the four-year-old company has risen to some $55 million from investors including Spanish Bank BBVA, Grupo Zeta, Dabaeque and Sequal, so Strands appears to be using at least some of that money to try and replicate its success with music in personal finance.
