E-Centives Evolves Into Invenda
"What's old is new," said Dadi Akhavan, president of the firm that he co-founded 11 years ago, commenting on the recent rash of industry consolidation. "From day one, our perspective was multiple areas and businesses within this broader entity of bringing buyers and sellers together."
One factor that has changed since the early days, Akhavan said, is an increased need for "substance," with "left-brain marketing components [measurement, tracking, ROI, etc.] becoming as important, maybe more important" than creative elements.
"A lot of companies are putting things together in silos, and marketers are looking for integrated solutions," he added.
How the integrated solution comes together at Invenda is exemplified by recent work for client Colgate, which brought together in one campaign such elements as an e-mail newsletter, coupons, an instant-win sweepstakes, and user-generated content in the form of a Mother's Day story and photo contest.
The name Invenda combines "Invent" with the Latin word "Vendo," meaning to sell recommend or advertise. The company said the new name better reflects its current business, which has evolved largely through four key acquisitions over the years: the e-commerce search business of Inktomi, ConsumerREVIEW, Collabrys, and Brightstreet's technology for home-printed Internet-coupons.
As the name change became effective last week, Invenda implemented a one-for-ten reverse stock split, reducing the amount of common stock from approximately 62.6 million shares to over 6.2 million shares.
For the first quarter of 2007, the company's revenue increased 6% to $1,467,000 over the same period a year earlier, with 69% coming from the Interactive Database Marketing division, now under the Collabrys banner. Net loss for the quarter was $1,202,000, down from $1,354,000 in 2006.
Invenda was born as Imaginex in 1996, taking on the E-centives moniker in 1999.