 SLI Systems logo, 2014-present | |
| Company type | Acquired |
|---|---|
| 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 stock 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 NZX.[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 NZX stock 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]