 | |
| Company type | Public company |
|---|---|
| Industry | Software eCommerce |
| Founded | 2001 |
| Headquarters | United States  |
| Products |
|
| Website | SLI-Systems.com |
SLI Systems provided cloud-based search tools for online retailers under a "software as a service" (SaaS) model. It was a public company listed on the New Zealand Exchange.
SLI is an acronym for Search, Learn and Improve.
SLI's main product, Learning Search, [1] uses the behavior of its users to determine search results. The company also sells a user-generated search engine optimization (SEO) product called Site Champion, and a site navigation product called Learning Navigation.
SLI Systems was formed in 2001, [2] and in 2013 the company raised $27 million NZD in its initial public offering [3] and listed on the New Zealand Exchange. [4] The core technology was originally developed at GlobalBrain, a company founded in 1998 [5] by Grant Ryan. [6] That company was acquired by the internet arm of US media company, NBC in April, 2000 for US$32 million, but after dot-com crash [2] [7] Shaun Ryan and others bought the technology back from NBC, and formed SLI Systems. [2]
SLI formerly had offices in San Jose, Christchurch, Tokyo, Melbourne and London and over 400 clients internationally including, FTD, 7 for all Mankind, Harry & David and Next. [8]
In 2013, SLI Systems launched an initial public offering on the New Zealand Exchange, raising $27m NZD with shares issued at $1.50, to help fund growth into important markets like Japan and Brazil. [9] Key investors included NZ entrepreneur Sam Morgan. [10] SLI Systems's share price performed strongly initially, rising to $2.50, before falling to as low as 71c after the company posted larger than expected losses and had some unexpected senior management changes 2015. [11] [12]
SLI Systems announced to the New Zealand Exchange in November 2015 that revenue guidance would be 29% above the previous year. [13] Recent significant client customer wins announced at the 2015 annual general meeting included Lenovo, David Jones, Harvey Norman and Paul Smith. [14] SLI Systems' UK website also list a number of clients via case studies . [15]
In January 2019 the company was taken private via acquisition by a private equity firm. The SLI search algorithm and IP were rolled into the company portfolio. [16]
The company no longer operates independently and was delisted by the New Zealand Stock Exchange in January 2019. Soon after, the US domestic headquarters in San Jose were shut down. [17]