| NetGeo
Changes Name to Verifia
Name Reflects Company’s Focus on Online Authentication
& Fraud Prevention Software
Mountain View, California –
August 26, 2002
NetGeo™ Inc., a leading provider of Internet
business intelligence solutions, announced today that
the company has officially changed its name to Verifia™
Inc. The new name, signifying the “state of truth”
and “verification for information access,”
reflects the company’s growing emphasis on online
authentication and fraud prevention software.
“The change from NetGeo to Verifia reflects the
company’s new focus on Internet security products,
particularly in the areas of log-in authentication and
online identity verification,” said Michael Yang,
NetGeo Co-Founder, President and Chief Executive Officer.
“While the name NetGeo served us well when we
were focusing on the IP geolocation market, the company’s
product line has evolved and the development of a new
corporate identity was necessary to reflect our new
focus.”
The company has filed amendments to its incorporation
in Delaware under the new name and all forthcoming documents
and contracts shall be rendered under the Verifia trademark.
Previous contracts signed under the NetGeo name shall
remain valid and in effect.
About Verifia™ Inc. (www.verifia.com)
Verifia Inc. (formerly NetGeo) is an innovative provider
of Internet authentication and identity verification
solutions. The company provides enterprises with powerful
software protection against system breaches that could
lead to the theft of online information and result in
fraudulent transactions. Verifia’s products enable
companies to better protect their corporate and customer
data by flagging abnormal user behavior patterns as
potential cases of identity theft. The company’s
solutions are designed to integrate seamlessly with
existing systems and are scalable and fast. Verifia’s
technology is based on an adaptive intelligence engine
that not only provides valuable data about consumer
Internet use, but also verifies and updates this information
continuously. In this way, Verifia creates a dynamic
profile of the web user and how he/she typically interacts
with a particular web site. Moreover, the company’s
technology transparently analyzes multiple data points
such as Internet Protocol (IP) addresses, web user trends,
and user behavioral data, yielding valuable business
intelligence in real-time -- without having to install
software on the end-user’s machine. As such, Verifia
enables the gathering of significant user intelligence
with minimal user experience disruption and personal
privacy intrusion.
Founded by Michael Yang, the former Co-founder, President
and CEO of MySimon, Verifia has a growing list of customers
and partners in the U.S. and abroad including Experian,
HNC Software, and US Search. Verifia is a privately
held company funded by LG Venture Capital, Alps Information
Technology Fund, Daesung Corporation, and angel investors,
including Michael Yang. The company is located in Mountain
View, California in Silicon Valley and can be reached
at info@verifia.com
or at +01 (650) 318-8000.
###
Contact:
Kristina Jade Yee
Senior Director of Marketing
Verifia, Inc.
650-318-8000, ext. 506
kyee@verifia.com
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