"This acquisition marks another strategic milestone in privacy for Reputation.com and its customers," said CEO and Founder Michael Fertik. "With MySocialCloud, we're adding a highly valued platform, a creative team, new capability and customers to our portfolio."
MySocialCloud started in 2011, as the brainchild of brother and sister Scott Ferreira, 22, and Stacey Ferreira, 20, and Shiv Prakash, 27, entrepreneurs who identified a strong market for technology that simplifies the login and username process. The platform enables users to install an extension - the 'Cloud It' - button on their web browsers, which is then used to auto login to any website.
The company was backed by multiple investors, including Sir Richard Branson (Virgin), Jerry Murdock (Insight Venture Partners) and Alex Welch (Photobucket).
"MySocialCloud is a natural fit with one of Reputation.com's most important
projects: the consumer data vault," said Fertik.
Reputation.com's consumer data vault will be a secure platform where consumers would keep their personal data, from demographics to individual preferences and buying habits. Companies would then offer an incentive - such as a coupon, free product or service, or even money - to access a person's data, once that incentive was evaluated and accepted by the individual. The richer, more targeted information would help businesses refine their products and services - and potentially generate even better innovations for consumers.
"We're building the vault to help empower users and ensure that they manage, control and ultimately benefit from sharing their personal data with companies,"
Fertik said. "This will be a revolutionary paradigm shift away from the current model, in which consumers' data is bought and sold, frequently without their knowledge or consent."
This acquisition comes after the company's most recent acquisition, PaperKarma, named a 2012 Apple Disruptive Services App for its straightforward ability to rid users of unwanted mail. Reputation.com also expanded to Europe this year with its acquisition of a UK-based online reputation management firm, now Reputation.com UK.
Reputation.com was founded in 2006 to give individuals and businesses the power to control their digital privacy and reputation. The company continues to pioneer patented solutions that safeguard and remove personal data from the Internet, monitor and respond to online reviews, build a positive and accurate Web presence for clients, and help businesses proactively engage customers.
Reputation.com is a World Economic Forum Global Growth Company and multiple award winner, including the recent Silver for the Best in Biz Awards for "Most Customer Friendly Company" in 2012. It is funded by top-tier venture capital firms and has customers in 100 countries.