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| November 18, 2008 |
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| CrossLoop Launches Transaction System for Tech Support Help Marketplace |
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| Portfolio Company: CrossLoop |
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CAMPBELL, Calif. - CrossLoop, Inc., the world's leading "Help Marketplace" where low-cost, qualified technical help is immediately available, today launched a new payment system. This empowers technology experts in its Help Marketplace to more effectively provide computer support and training to consumers and small businesses. It comes with a 48-hour money back guarantee to ensure customer satisfaction. Additionally, the new transaction system simplifies payment processing for CrossLoop Helpers and customers by accepting any major credit card and PayPal, while tracking each tech support interaction.
CrossLoop's very popular and easy-to-use desktop sharing technology simplifies working securely with others in different physical locations across diverse network environments. Combined with the Help Marketplace, a community of more than 13,000 technology experts in over 130 countries, CrossLoop brings personal relationships back to tech support and helps with virtually any technology issue. Technology experts in the Help Marketplace have a wide range of expertise, including hardware support, software and applications support and training, and have logged more than 65 million help minutes to date (equivalent to 120 years of connectivity amongst users).
"Our new transaction system lets us handle all payments for services provided through the Help Marketplace and adds another layer of assurance for customers with our 48-hour money back guarantee," said Lisa Alderson, CrossLoop's chief executive officer. "Meanwhile, it lets Helpers provide estimates, track service sessions and process payments more effectively."
The Help Marketplace community of tech experts - ranging from independent technology specialists to engineers from large technical support companies - will now be able to provide quick service estimates, track service sessions and history, and monitor the status of all transactions. The new system also incorporates a console for customers to view their help session history and easily return to experts who have successfully helped them in the past.
"This is a great move on CrossLoop's part, with a fair commission system and service guarantee," said Howard Weiss, a CrossLoop Helper who is an Instructor at Pima Community College and a small business owner of Tucson Computer Training in Tucson, Ariz. "It will significantly help me grow my business and build customer loyalty."
CrossLoop continues to grow its platform to help solve customer's tech support issues and is committed to investing in the experts in its Help Marketplace. Unique features for the Help Marketplace community include dynamic profiles that update Helpers' information in real time, the ability to measure their expertise and build their reputations, as well as powerful tools to market and promote themselves.
The CrossLoop Help Marketplace and CrossLoop's free desktop sharing software are available at www.crossloop.com.
About CrossLoop
CrossLoop is redefining the tech support category for consumers and small businesses by providing immediate, low-cost access to qualified help anytime and anywhere. Through its easy-to-use desktop sharing software and Help Marketplace, CrossLoop connects computer users with trusted, qualified service providers and tech-savvy friends who can provide the support they need immediately. Consumers and small businesses lose productivity due to lack of accessible, knowledgeable tech support resources. CrossLoop makes finding and working with tech support professionals fast, friendly and affordable. Available in 21 languages and used by individuals and businesses in over 190 countries, CrossLoop serves over 1 million unique users and has enabled more than 65 million "help minutes" to provide technical support, training and collaboration around the globe. CrossLoop is backed by El Dorado Ventures (http://www.eldorado.com) and Venrock (http://www.venrock.com). For more information, please visit www.crossloop.com.
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