New York, NY (PRWEB) February 11, 2008
InfoNgen, the first Discovery Engine for business and financial professionals, today announced that it has added nearly 30,000 private companies to its coverage universe, enabling users to easily find information on the web about hard-to-follow private companies.
InfoNgen's proprietary tagging engine automatically assigns a unique global "symbol" to each private company. Unlike traditional text-based search, InfoNgen can identify companies based on numerous factors including spelling variations, subsidiaries, key executives and products. This enables users to receive highly relevant and timely results - on even the most below-the-radar companies - from over 15,000 online sources, including mainstream news sites, local and foreign language media, blogs, regulatory sites and more.
"With alternative investments going strong, we recognized the need for more in-depth information on private companies," said John Mahoney, Co-Founder and CTO at InfoNgen. "Though there's plenty of fundamental and historical private company data to be had, there's a scarcity of news and current information readily available on these companies. By creating a standardized tagging or symbology system for private companies, we're able to provide consistent results from the wealth of information buried on the global web. It's now as easy to discover stories on private companies as it is to find mainstream news on public companies."
In a related development, InfoNgen launched its foreign language translation service. Regardless of a source's language, InfoNgen can identify a relevant story and automatically translate it into English.
InfoNgen's basic service can be accessed by anyone on the web at http://www.infongen.com. Customized discovery and real-time alerting features are available by subscription directly with InfoNgen or through a number of financial research firms, including TheMarkets.com and Standard & Poor's. InfoNgen also works with customers and business partners to provide proprietary and scalable solutions.
InfoNgen is owned by Instant Information, Inc., which was founded in 2004 by Isaak Karaev and John Mahoney to provide information management and collaboration solutions to the financial industry. It was launched with start-up capital provided by Standard & Poor's, Reuters and several private equity firms including Union Square Ventures.
CONTACT: Karen Smith, InfoNgen, 212 328 7233, karen.smith @ infongen.com