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History NexTag was foundeded, in 1999 by Stanford graduates Purnendu Ojha, Rafael Ortiz, and a programmer Franklin Schmidt who left the company in 2002. NexTag is a privately held company in San Mateo, California and is funded by Morgenthaler Ventures. With a total investment in the company of about $13m, the company has been profitable since 10/01. As of March 2006 with over 20,000% revenue growth over 5 years. Business Model NexTag's original business model was an online negotiation site allowing consumers to name their own price for computer and electronics products. NexTag abandoned this model in 2000 and focused on comparison shopping. NexTag pioneered the concept of calculating total price by using a zip code to compute tax and shipping charges, in addition to the product price (what NexTag calls TruePrice). Recent Changes In June 2004 NexTag launched NexTag UK, a United Kingdom version of NexTag's shopping comparison engine. In October 2004 NexTag launched Services Shopping adding shopping comparison capabilities for mortgages, travel, cars, real estate, and online education programs. | ||||||||||
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