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Sustainable Business Model Accelerates Socialtext's Growth in Profitability and Customer AdoptionSocialtext, the leading enterprise social software provider, today announced the company continues its corporate momentum by achieving operating profitability in 2011. Through a continued dedication to customer service and developing superior technology, the company predicts an increase in profitability for 2012. “This accomplishment has proven our business model is a success,” said Eugene Lee, CEO, Socialtext. “We are dedicated to providing the best possible customer service to our clients, offering the tools and convenience necessary to maintain and grow adoption of enterprise social networking throughout the company. At Socialtext, we don’t just sell a solution; we solve efficiency problems and help employees communicate and collaborate easily and more efficiently.” Throughout 2011, Socialtext hit several milestones in the form of: • A cash flow positive balance sheet and Gaap profitability • Addition of new marquis accounts such as Blue Man Group, Ericsson, New South Wales Department of Education, Isobar, Intel, National Park Service and more. • Over 100% renewal rates and record product adoption. Active usage has more than doubled from 2010 to 2011. The forecast for 2012 includes an increase in demand for internal social collaboration platforms used as a knowledge source for employee communications. This signals a major industry shift that moves enterprise social software from a trend to becoming an essential work tool. With more than 6500 customers worldwide, Socialtext was the first company to deliver social business software and continues to expand its reach across several industries including retail, financial services, healthcare, government, professional services, education, manufacturing and media/publishing. Socialtext is the only provider of enterprise social networking software that provides the flexibility to integrate with existing solutions to provide a fully interconnected network. Socialtext's enterprise social networking products -- including microblogging, blogs, wikis, profiles and social spreadsheets -- provide simpler ways for employees to share vital information and work together in real-time. Delivered in a variety of hosted cloud services, as well as on-site appliances, enterprise customers are provided with flexible deployment options that meet their security requirements. Built on a flexible, web-oriented architecture, Socialtext integrates with virtually any traditional system of record, such as CRM and ERP, enabling companies to discuss, collaborate, and take action on key business processes. More information on the company can be found on their website at www.socialtext.com or you can follow Socialtext on Twitter at @socialtext. As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |