If you're reading this sentence, you know where to go for company data. Hoover's, the publisher of this profile, offers proprietary business information through the Internet (Hoover's Online) and through integration with clients' existing enterprise infrastructure (Hoover's API). Its database of information includes about 85 million corporations and other entities and 100 million people, and its First Research product covers some 900 industries. Most revenues come from selling subscriptions to a target audience of marketing, sales, and business development professionals. Hoover's also offers mobile apps (Hoover's Connect+) and publishes a business blog (Bizmology). It is a subsidiary of Dun & Bradstreet (D&B).
Hoover's operates as part of its parent company's Internet Solutions business, which in 2011 reported an increase in annual revenues by nearly $8.5 million, or about 8%. The positive results were in part due increased customer acquisitions at Hoover's, as well as continued growth in Hoover's subscription revenue. The business also benefited from the migration of customers from certain D&B Traditional Sales & Marketing Solutions.
Since its acquisition by D&B, Hoover's has expanded the breadth of information available on its website and the tools available to its customers. The company has added such features as corporate family tree information, enhanced list-building capabilities, and customized data feeds that allow customers to present the information in a variety of internal formats. In addition, its First Research Industry Profiles cover market trends, business challenges, and industry opportunities.
In continued efforts to improve its offerings, in 2012 the company launched Hoover's Optimizer, a service that allows customers to cleanse, match, and append basic data points in order to improve the quality of customer and prospect files. And in 2011 the company introduced Hoover's Spotlight Reports on IT. The reports give customers an overview of the IT departments and strategies of top companies. In addition, Hoover's blog Bizmology launched a redesign in 2011.
Also in 2011 Hoover's formed a partnership with professional social networking company LinkedIn. Through the deal, Hoover's integrated elements of LinkedIn's service into its platform, allowing professionals to access existing connections from LinkedIn within a Hoover's profile. The agreement was made to give sales professionals more ways to connect with prospects
On the mobile front, in 2011 the company launched Hoover's Connect+, an app for iPhone and iPod touch products that lets mobile users photograph business cards, supplement the captured data with Hoover's business information, and manage contacts. The previous year the firm released the Hoover's Near Here app, also for Apple mobile products. Hoover's Near Here allows users to search and find business prospects based on their physical location.
The business expanded significantly after D&B acquired First Research for about $22 million and AllBusiness.com for some $55 million (both of those deals closed in 2007; AllBusiness was sold in 2012). Previously, the company's growth in its subscription business caught the attention of D&B and led to the financial information giant's $119 million purchase of Hoover's in 2003.