Permuto Becomes Buysight, Gets Funding

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money_tree_small.jpgADOTAS – When Permuto was considering a name-change, I told it to go the Prince route — what if instead of some boring old word they had a little digital shopping basket for a name? People could come up with hand signals to say the name of the company (though “The Ad-technology provider formerly known as Permuto” does have a ring to it).

My advice was not heeded, apparently, as Permuto announced today that it has changed its name to Buysight. The firm, which specializes in retargeting and real-time brand advertising via data derived from in-market shoppers, decided that name “more accurately reflects the core benefits our products provide to our clients — insight about buyers and the ability to turn those insights into profits for marketers,” said CMO Jeff Weitzman.

In addition, Buysight announced that it finished its first round of financing. In total the company has received $10 million dollas from investors such as ONSET Ventures, Rembrandt Venture Partners and Reid Hoffman, executive chairman and cofounder of LinkedIn. Finally, former Yahoo EVP and Chief Product Officer has joined Permuto’s board of directors.

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