We are happy with Cary's quick strategic refocus of the company, and we look forward to him helping us with some of our other portfolio companies
Foster City, Calif. (PRWEB) October 12, 2007
Visible Path, a leading corporate social networking company, announced today that it is focusing exclusively on corporate networks and its strategic partnerships with D&B, Hoovers, Intel, LexisNexis, Oracle, Salesforce.com and Webex.
In a 2007 global market survey by McKinsey & Company, 37 percent of the respondents said their companies are planning to deploy social networking technologies. Based on market feedback, Visible Path learned corporate customers are looking for social networking services integrated into their existing applications and services and is committing its full resources to servicing corporate customers via partnerships with established providers.
As part of the change, Cary Rosenzweig, who was appointed Visible Path CEO in August, has stepped aside to work with Visible Path investors Kleiner Perkins Caufield & Byers and Menlo Ventures. "We asked Cary into Visible Path as CEO to evaluate the individual social networking market," said Ray Lane, managing partner at Kleiner Perkins Caufield & Byers. Rosenzweig recommended conceding the crowded market for stand-alone social networking sites in order to focus Visible Path on its core strength of integration into existing business applications. "We are happy with Cary's quick strategic refocus of the company, and we look forward to him helping us with some of our other portfolio companies," said Mark Siegel, partner with Menlo Ventures.
Visible Path chairman and co-founder Antony Brydon will resume his prior position as CEO to lead the channel partner and product integration efforts. "We're excited to help our partners service this growing marketing for corporate social networks," said Antony Brydon.
In concert with its exclusive channel strategy, Visible Path is expanding its India subsidiary and moving products and engineering team to Bangalore, India under country manager Satish Mani. Prior to joining Visible Path, Mani spent six years at Oracle, most recently as group manager for Oracle CRM product development in India. Consolidating products and engineering in India is intended to speed Visible Path's application integration projects and new feature development.
About Visible Path
Visible Path helps business people build, manage and capitalize their network of professional relationships. Visible Path professional edition provides free services that enable to quickly build a private network by registering at http://www.visiblepath.com or partner sites. Visible Path enterprise edition provides companies with Relationship Capital Management (RCM) services to build, protect and extend corporate networks. Visible Path has deployments at the most innovative companies in the United States, from Fortune 50 corporations to small professional service firms. Key integration and distribution partners for Visible Path services include D&B, Hoover's, Intel, LexisNexis, Oracle, Salesforce.com and Webex, Visible Path was founded in 2002 and has received broad industry and analyst recognition, including profiles in the Wall Street Journal, the New York Times and Business 2.0. Visible Path is a privately-held company, backed by Kleiner Perkins Caufield & Byers, Menlo Ventures and Integral Capital Partners.