Rearden Use Cases and Statistics

 
 
By Clint Boulton  |  Posted 2008-05-28 Print this article Print
 
 
 
 
 
 
 


Randy Davidson, travel manager for predictive analytics software maker SPSS, said he purchased the Personal Assistant last December for workers spread out in 25 offices worldwide. Within 30 days, 1,300 (94 percent) of the company's employees eschewed the incumbent Orbitz service and began using Rearden.

"It's quite reliable and far more up to the minute availability with hotels and cars," he said. "I'm not getting anybody checking into a hotel and being told they don't have a reservation." As for price, he said the Rearden PA runs a few dollars less than Orbitz per transaction, but the accuracy percentage in booking air flights provides him with more savings.

It's also the kind of Web-based service that Google drools over as it continues its march to cover everything on the Web. However, the companies don't have any public relationship, and both Google and Rearden declined to discuss whether the companies have any business deals -partnerships, acquisition or otherwise-in the works.

Testimonials are great, but there are lots of great products that don't make money. Let's add up some numbers and see what we get.

Rearden CEO Patrick Grady told eWEEK that Rearden inked resale distribution relationships with American Express Business Travel and other travel-management companies in 2006. By year end, the company had 92 customers. Those resellers sold Rearden PA like gangbusters and the company finished with 1,293 customers through 2007.

Thousands of Customers and $2 Billion Target

Currently, Rearden boasts over 1,800 customers and expects to end the year at around 3,200, thanks in part to a new strategic relationship with Chase, where the company will soon offer its Personal Assistant to Chase's millions of consumer credit cardholders.  

The fact that Rearden is able to slide into the consumer sector so easily is a sign the company is prospering and investors have noticed.

The company May 6 banked $100 million in funding from JPMorgan Chase & Co., American Express and others, bringing its total funding to $200 million.

Considering that the average venture capital firm wants to get back 10 times its initial investment, Rearden's target is a hefty $2 billion. The privately-held company declined to divulge a valuation.

Moreover, the company May 20 launched a mobile version of its PA, which will enable businesses and consumers to access their PA while on the go.  



 
 
 
 
 
 
 
 
 
 
 

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