LOS ANGELES, April 9, 2018 /PRNewswire/ -- Businesses spend nearly a billion dollars a year suppressing negative articles online. In most cases, those articles are written by competitors. It's rare that they will ever be taken-off, and businesses lose money. On the other hand, consumers depend on the 5-star rating religiously to make an educated decision before using the product or service.
The issue gets more complicated when Yelp and Google are shielded by the first amendment, protecting their users from postings their admiration or lack thereof. What about the responsibility of the platform to filter the fake negatives? Reputation companies and review platforms know the importance of maintaining good ratings, and manipulate businesses to spend advertising dollars. There hasn't been significant change or innovation, in this space... up until now!
Algorip. A proprietary software that recognizes fake reviews based on public IP, as well as the frequency of users' activity online. Algorip software then pinpoints and removes the profile automatically. That makes this advanced technology one of a kind, and it seems to be the most effective way to combat the unjust fake reviews, as well as focus on an authentic and transparent rating. No word yet from the actual review platforms, but some insiders are saying this could shake the industry altogether.
Back in 2015, John Daniel, founder of Renesent, Inc., a DC Venture Capital firm, invested a seed round of $100,000. Now in 2018, Renesent has funded an undisclosed round A in Algorip mainly for additional hiring and expanding their R&D offices in Tel-Aviv and support center in Mumbai. Lana Lennox, Algorip Co-Founder and CFO, has announced that recently they launched a new version of their software that is more affordable and better focused on small businesses that are targeted by public review platforms. "It's imperative that review platforms will be held to higher standards and accountability with providing real transparency in their review process," Lana said.
Algorip has already been used by major hotel and restaurant chains, well-known doctors, lawyers, plastic surgeons, and even major moving and construction companies. "We are getting into a vacuum where people are abusing their first amendment rights by spreading hate, lies and destroying businesses along the way."
SOURCE Renesent
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