Friday, January 14, 2011

ShopIgniter Trumpets Growth

Portland-based ShopIgniter, a developer of software to help companies promote themselves through social networks, said earlier this week that it saw a "record year" for growth at the firm. The firm said it had a 190 percent increase in revenue, and 400 percent increase in business signed by the company. Actual financial details were not disclosed by the company. ShopIgniter, which is headed by Matt Compton, is venture backed by Madrona Venture Group. Compton was a venture partner at Madrona prior to becoming CEO of ShopIgniter. ShopIgniter's services and software allow companies to promote coupons via social network; run private and group sales; run Facebook based e-commerce stores; and integrate with its own or existing e-commerce software.