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August 13, 2007
tyBit Increases Internet Search Relevancy
FAYETTEVILLE, N.C., Aug. 9 -- This week, AIT (Advanced Internet Technologies) announced the release of tyBit (Beta 2), located at www.tyBit.com. tyBit was officially debuted by long-time Web hosting provider AIT at the 2007 ISPCON held in June in Orlando, Fla. where Clarence Briggs, founder and CEO of AIT, delivered the keynote address. Prior to that, tyBit won "Best Product" runner-up at the Channel Partner Expo Show in Las Vegas. To date, tyBit has filled a partner pipeline with over 30 telcos, carriers, ISPs, media companies, OEMs and various other subscriber-based organizations seeking to be strategic partners and representing 46 million potential subscribers. The first production release of the tyBit application is calendared for second quarter 2008, when channel partners and advertisers will be able to sign up and begin using the application.
tyBit is a major shift for online search, moving away from the centralized search engine model to a patent-pending client side application that distributes Web crawling, indexing and browser content delivery. According to Sean McCoy, chief marketing officer at AIT, "tyBit will impact the search industry overnight. By enhancing the user experience and sharing revenue with partners as well as improving interactive ad ROI for advertisers, everyone will win." McCoy states tyBit will increase search relevancy and eliminate incentives for click fraud, which costs online advertisers billions of dollars each year. "We are going to give advertisers an itemized bill detailing charges," said McCoy. "We also believe that tyBit will revitalize the traditional print and broadcasting industries with respect to interactive advertising."
Shattering the existing search model, tyBit provides accelerated search and maximizes relevancy by allowing users to search the Web quickly and thoroughly, by instantly submitting searches to multiple online directories, major engines and other data sources in the public domain, displaying all of the results in a single window on the desktop or PDA. As the information on the Web grows exponentially, search relevance becomes more difficult. tyBit answers the relevance question with grid computing, learning subscribers' preferences, searching multiple sources, displaying the most current information and searching local content based on a subscriber's actual location. It also offers privacy protection, reduces click fraud and, with the formation of a partnership with a leading security software manufacturer, "tyBit now has the ability to protect users from bots and malware in real time while they are browsing the Web," said Ryan Sherstobitoff, product technology officer for Panda Security.
"The initial spark that drove the development of tyBit was our dissatisfaction with the search industry's pay per click model and the associated click fraud," said Briggs. "Our click fraud experience with Google, and then the Fayetteville Publishing Company on a local level led to litigation. So we said, 'There's a problem, and at the end of the day litigation may or may not change anything.' The long-term business solution is to attack the problem head on with a market alternative and tyBit is our answer. Our partners have indicated that they are frustrated because they don’t feel they are getting their fair share of the interactive advertising dollars even though they have the relationship with subscribers. They also want customization and transparency which they aren’t getting now. We can deliver this to them with tyBit."
Company officials indicate that tyBit is working with several interested capital firms to complete an $80 million first-round financing. AIT has never taken outside equity investment but instead built its business out of cash flow. The five-year plan for tyBit aims to achieve annual revenues in excess of $6 billion. “tyBit is an interesting initiative because it combines unique technology with a business model that allows traditional media to get back into the game and earn their share in the advertising market,” said Paul Stapleton, managing director of DH Capital LLC.
Company officials say tyBit will unify search and make it so relevant that the term "search" becomes synonymous with "find." "While the major search engines seem preoccupied with becoming media content moguls, tyBit seems intent on redefining the search paradigm to produce greater relevancy, reduce click fraud and offer channel partners a piece of the search advertising pie. It's an interesting development that we will definitely keep our eye on," said Berge Kaprelian, president and CEO of Beka Publishing of Channel Vision magazine.
"The fact that Clarence Briggs has announced stepping away from his position as CEO of AIT in order to devote his full attention to tyBit speaks volumes about his personal commitment to the tyBit vision," said Kevin Pollard, former chairman of the New Orleans Area Regional Chamber of Commerce, director of the World Trade Center of New Orleans, and managing partner and president of GlobalSolve Management Services. "His personal leadership and long-time management team have propelled AIT to 11 years of profitability and success. I've known these guys for years and the one thing that they do exceptionally well is execute."
About tyBit
tyBit is affiliated with AIT (www.AIT.com), a technology company that has achieved 11 straight years of sustained profitability and has generated hundreds of millions in revenue while creating a profound economic influence on its surrounding community. AIT has been named two times to the Inc. 500 list of fast growing firms, three times to the Deloitte & Touche Fast 500 list, and has been previously named as the NC Entrepreneur Firm of the Year.
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Source: tyBit
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