Sponsored by Oregon Business

The sales solution

| Print |  Email
Articles - March 2012
Friday, March 02, 2012

BY LINDA BAKER

0312_Launch_4Tell
Ken Levy, CEO of 4-Tell
// Photo by Alexandra Shyshkina

Amazon.com makes about $19,000 a minute on product recommendations: personalized suggestions that direct customers to products they might covet in addition to what they intended to buy. Now a Portland company is democratizing product recommendation services by developing faster, cheaper solutions accessible to midsize retailers. Launched in 2009, 4-Tell (“foretell”) creates software that functions like “a really good salesperson at the store,” says CEO Ken Levy, who, along with co-founder Ken Lofgren, came up with the concept after entering a Netflix competition to improve movie rental recommendations. Existing recommendation services typically take three months to integrate into a retailer’s website, with contracts of about $50,000 annually. By contrast, 4-Tell’s software takes only a few hours to integrate, and the company bills monthly, starting at $49, says Levy. The automated service also updates constantly “based on all past behaviors of shoppers, your past behavior, and what you’re doing at this moment.” A virtual company, 4-Tell employs seven full-time workers in Portland, the Gorge and Southern California. Gross revenues clocked in just under $1 million last year, and many of the company’s 100 customers, which include Columbia Sportswear, report sales increases of 10% to 25% after using the recommendation service. “At the end of day, we’re providing value to our customers,” Levy says. “That’s what’s exhilarating.”

COMPANY:
4-Tell
PRODUCT:
Software for retailers
CEO:
Ken Levy
HEADQUARTERS:
Portland
LAUNCHED:
2009

MONEY TRAIL
4-Tell has raised more than $1 million from 19 angel investors, including two online marketing professors from the Wharton School of Business; Keiretsu Forum, a national angel investment network; and Bruce Davis, CEO of Beaverton-based Digimarc, where CEO Ken Levy worked as senior director of technology and market development from 2000-2004. It was awarded $120,000 from the Gorge Angel Investors Network competition and $25,000 from the Portland Seed Fund.

WHAT'S NEXT
Levy aims to grow 4-Tell into a “major force” in five years, with $80 million in annual revenue and 150 employees. The e-commerce platform-provider market is consolidating, he says. “So it’s likely we’ll be acquired.”
 

More Articles

Party Like It’s 1999

Contributed Blogs
Wednesday, February 25, 2015
pets-com-sock-puppetBY JASON NORRIS, CFA | OB GUEST BLOGGER

Pets.com, GeoCities, eToys, and WorldCom … blasts-from-the-past that all signify the late 1990s Internet bubble. Yet we believe the dynamics of the market, specifically in technology stocks, are much different today than it was during the late 1990s.


Read more...

Bike Chic: 7 stylish options for cyclists

April 2015
Thursday, March 26, 2015

Cycling to work is all the rage. But not everyone wants to arrive at the office messy, sweaty — and unfashionable.


Read more...

Courtside

April 2015
Thursday, March 26, 2015
BY JACOB PALMER

Power lunching at the Court Street Dairy Lunch in Salem.


Read more...

Power Players

April 2015
Friday, March 27, 2015
BY ROBERT MULLIN

A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.


Read more...

Money Talks

March 2015
Saturday, February 21, 2015
BY LINDA BAKER | OB EDITOR

Will community banks survive the digital age? Three CEOs peer into banking's crystal ball.


Read more...

Help Wanted: Poached Jobs aids restaurateurs

March 2015
Friday, February 20, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR

“We thought there was room for something new.”


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS