Former PeopleSoft CRM group chief Joe Davis joins hosted application startup Coremetrics as president and CEO.
Joe Davis, former head of PeopleSofts Customer Relationship Management division, has joined Coremetrics Inc. as president and chief executive officer.
Davis said Wednesday that he left PeopleSoft at the end of February after working two years as group vice president and general manager in charge of marketing and development of PeopleSofts CRM applications.
However, Davis didnt depart from PeopleSoft because of the turmoil caused by the companies prolonged legal battle to resist a hostile buyout by Oracle Corp.
Davis said he has a new opportunity at Coremetrics to continue building a venture-funded CRM startup. "I wanted to get back to running my own business," Davis said. Davis first experience at building a CRM product line was at Remedy Corp., where he was in charge of marketing and development.
Coremetrics, of Burlingame, Calif., is an application service provider that sells subscriptions to its CRM software hosted at its Burlingame headquarters.
Coremetrics captures and stores all customer and visitor clicks as they shop through customer Web sites to build sales profiles for each individual visitor, Davis explained. These profiles serve as the basis for future online marketing pitches to these visitors, Davis said.
Coremetrics has about 100 customers who use its CRM applications to manage about 220 different brands, Davis said. The company added about 80 new brands in 2003. Customers include Motorola Inc., Williams-Sonoma Inc., Neiman-Marcus, Eddie Bauer Inc. and Bank of America Corp.
Coremetrics currently manages about 27 terabytes of customer data. "This data is owned 100 percent by our customers. We dont even look at it," except to help clients solve specific business problems, Davis said.
The company announced late last year that it had reached the cash flow break-even point. But Davis said he was hired in part to explore future strategic initiatives including additional product development and an expansion of the companys sales effort. This may require future venture investments, he said. But "our venture capital partners have been very supportive," he said.
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