Jellyfish
I went to a WIN luncheon today. The speaker was Brian Wiegand and Mark McGuire of Jellyfish.com. Jellyfish is a new shopping search engine that derives revenue not on pay-per-click basis like Google but through agreements with retailers. If I want to purchase an ipod I can search for it on Jellyfish, compare prices, then click on the retailer I wish to purchase from and I’ll go to their website for the purchase. The retailer will than credit back a portion of the purchase price, say 2.3%, to my Jellyfish account. It is a unique business model that incents the consumer to return to shop through the Jellyfish rebate account, accurately charges the retailer for the advertising only when the consumer purchases from them, and begins to get rid of the pay-per-click practices that seem to be fraudulent.
I shop for all shoes, clothes, and number of specialty items on the internet. I’ll search using Jellyfish and if they are competitive I’ll buy through them…I think once they get more retailers they will be more competitive. Jellyfish is a Madison business and according to Mr. Wiegand they plan to stay that way. He said it was surprising how many venture capitalists asked when they would be moving to Silicon Valley. I’m glad they plan on staying here in Madison and I hope they are as successful as the Google guys.
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