Crowned the leader and pioneer of structured analytics, InMoment was named a top provider in the customer feedback management space according to the Forrester Wave Customer Feedback Management Platforms. But it wasn’t always that way. InMoment evolved through a series of companies and technologies back in the early days.
Cornerstone Hospitality Partners
My brother and his wife began a marketing and promotions company called Cornerstone Hospitality Partners with particular focus on the hospitality industry, hotel chains, and vacation providers. It was successful locally with hopes of going international some day. It’s popularity grew.
After my career in Washington state, I joined forces with Jeff to start a brand new commercial deals business that brought customers to the door steps of local businesses and gave people access to great deals for the things they already wanted. It was a win-win situation for everybody involved, and the company thrived.
Soon, the participants grew beyond that of just one state, so isolating this idea to just Utah became a great limitation, so we expanded the operations.
We coined the coined the name, secured the domain, and set out on a journey to mutually help businesses and consumers get more for their money.
Hired a CEO and he brought with him a team of skilled in the fields of development, marketing, and operations with connections. This turned out to be a great move, and the team and company grew significantly.
The goal was clear. We put together great team. And the industry craved) the deliverable we offered, but technology took time to build.
We development a computerized system that replaced IVRs for customers to give immediate feedback and business to respond realtime. The technology was developed and configured for phones, websites, and point-of-sales operations. Attained national prominence with a lot of hard work and a cutting edge system that voice of the customer with consolidation online.
Business leaders could get timely feedback from customer, reward employees for great service, and emphasize delivering excellence everyday. The company expanded internationally and joined forces with other (providers). Big names soon began to frequent the board room Nike, Zoom, Volvo, Radio Shack, and many other big brands adopted the technology.
The stock price during the height of CityDeals is hard for to say since the company was privately owned and my involvement in the daily operations and selling stock diminished as time went on. I know that a lot of people bought in to the idea and purchased stock, converted debt, or took stock instead of paychecks. Other people invested, and the company grew.
Big names around the valley invested time and money to make CityDeals a success. Screaming Daily Deals, which sold for around $12.5 million around the time CityDeals was really doing well in the spring of 2011. CityDeals was worth at least as much as them, based on sales, customer database, and so forth. With 25 million shares authorized (and probably issued) at CityDeals, that puts the stock price and company evaluation in the millions at least.
According to the company's website, InMoment is the World’s Only Full-Service Customer Experience Company. The technology we developed continues today with added expertise, resources, development, and widespread use. In 2019, Madison Dearborn Partners acquired InMoment. In February 2020, the company further established its international presence when InMoment acquired MaritzCX another customer experience (CX) and market research company providing consumer data analysis in real time. InMoment continues its growth with further acquisitions of digital feedback leader Wootric and natural language processing specialist Lexalytics. The result became a powerhouse in the customer experience space boasting at least 64 companies using the InMoment XI customer experience tool today.
InMoment's Experience Improvement (XI) approach goes beyond traditional customer experience management and combines data, technology & industry expertise.