San Mateo, Calif., April 20, 2009 - FirstRain®, announced today that Newssift.com, an independent entity within the Financial Times Group, has selected FirstRain to provide broad, global web content from thousands of business, economic and financial web sources. Newssift has licensed FirstRain technology and services to find and extract targeted business content as input to the new interactive financial search tool that launched in beta on March 18, 2009.
FirstRain is the established leader in search-driven research for financial and corporate professionals, providing a rich online research and analytics experience, automated reports and feeds on companies, markets and company management to both the investment management and corporate markets. The partnership leverages FirstRain's deep expertise and technology in business-oriented source discovery and identification, web crawling, content extraction, as well as FirstRain's comprehensive research of relevant business sources on the web, to power a new generation of news search for business professionals.
"We realized early on that effectively mining the web for high quality, unstructured business information is extremely challenging," said Robin Johnson, Chief Executive Officer for Newssift. "FirstRain was a logical choice as our partner because the FirstRain system is unique in delivering a high quality, pre-processed feed from the thousands of global business sources across the web. We have been extremely pleased with the relationship and level of service we have received from FirstRain, and as a result we have been able to focus our resources on providing the best interactive search experience for Newssift users."
"We are delighted to have been selected by Newssift to provide business and financial content", said Penny Herscher, President and CEO of FirstRain. "Our research system has been focused on the quality of information and analytics required by the institutional and corporate markets. Newssift's use of FirstRain technology as one part of the solution to provide a new generation of search tool for the business professional is an excellent application of our core search and extraction technology and we are excited to be part of the Newssift solution."
As the leader in search-driven research, FirstRain provides global firms with a competitive advantage, revealing information and trends from the web that they would not otherwise see. FirstRain changes the rules of research by applying state-of-the-art extraction and pattern detection technology to the web. FirstRain is a privately held company headquartered in San Mateo, Calif., with additional offices in New York, NY and Gurgaon, India. Contact FirstRain at www.firstrain.com. Visit CEO Penny Herscher's blog, Market Mine, at http://pennyherscher.blogspot.com. FirstRain is a member of Investorside.org.
Newssift is a unique search tool for business professionals indexing millions of articles from thousands of global news sources. A next generation vertical search tool, Newssift.com searches are based on meaning, topic relationships and business themes, moving beyond traditional keyword search towards refinement. Newssift was created by FT Search Inc., an independent entity within the Financial Times Group.