MarketLive Takes Positive Step with New CEO
Mark Pierce, chief financial officer for MarketLive since May, has replaced Terry Austin as chief executive officer. Mr. Pierce brings to his new role a 15 year background in ecommerce. He held earlier positions at Pinnacle Rock Associates (acquired by Fry, Inc.), Proctor & Gamble, Accenture and USWeb/CKS.
The action is sure to be welcome among clients. It is a good step toward more sure footing in the market. With the change, MarketLive is softening its decision to end support of versions 3 and 4. Read more
MarketLive scores new investors, $20M in capital
On the heels of recent news that MarketLive will end support for version 4 and prior, the company announced today it has closed a new round of financing and added two new investors. According to the press release, “JAFCO Ventures and Northgate Capital, join existing investors, Sequoia Capital, Sigma Partners, Globespan Capital, and others, who all fully participated in the round,” which amounts to $20M in new capital.
Rumors had been swirling around that MarketLive had been putting out feelers for a sale. Today’s news sharply curbs that speculation.
Speaking briefly with Gartner last week, Gene Alvarez told me MarketLive’s decision to jettison the older versions is “customary for software companies” and essential to the company’s future. While this may be true, it’s no consolation to nearly half of their clients – many who launched on v.4 in the last 18 months after an arduous, expensive integration. Now they must start all over.
Perhaps MarketLive will follow the lead of other SaaS vendors, and invest capital to reduce the cost and complexity of upgrades. In April, MarketLive CEO Terry Austin said that improving upgrades was indeed part of the plan. While admitting that migration is expensive, he asserts it is still more affordable than transitioning to a competitor.
MarketLive ending support for Version 4
I just returned from the MarketLive Summit at Half Moon Bay, CA. The venue was lovely, but the mood was mixed. By April 2009, MarketLive will end support for Version 4 of its platform. Nearly half of its 150 customers now face an upgrade or move off of the platform.
Version 5 has been available since 2006, and the upgrade to get current is a costly and complex endeavor. Of course, telling clients they must move “up or out” by its very nature forces everyone to at least consider “out.” I met with many MarketLive clients at the event who are indeed considering alternatives.
I’m scheduling an executive briefing with MarketLive to gather more details. Stay tuned.
PCI Compliance for MarketLive v5.4
Earlier this month, MarketLive attained compliance with PCI Data Security Standards for version 5.4 of its platform. Barak Engel, chief security officer of MarketLive was quoted in the press release saying, “E-retailers who standardize on MarketLive v5.4 can have the confidence that their e-commerce platform is compliant with established security best practices through the PCI certification.”
Retailers running earlier versions of the MarketLive platform have been encouraged to upgrade and take advantage of the MarketLive’s certification for an additional monthly charge. Clients on prior versions must upgrade or establish compliance on their own. Some retailers who are still in MarketLive’s integration cue for version 5.3 are being advised to upgrade yet again. This includes GiftCertificates.com, who re-launched on version 5.3 in November 2007, just in time for the holiday season.
MarketLive joins the ranks of several other PCI-compliant platform vendors, including Demandware, GSI Commerce and Venda.