Enhances Competition and Reduces Prices
| Name: |
Teleworth |
| Description: |
Service that matches consumer calling patterns to the best long distance calling plan |
| URL: |
www.teleworth.com |
| Founded: |
1997 |
|
Dozens of long distance companies flood the market with hundreds of options for long distance service plans, creating confusion for the consumer. Enter Teleworth.
Teleworth compiles information on most long-distance companies and their rate plans. By using the Internet, Teleworth enables customers nationwide to have their calling patterns analyzed and matched to the plan that best fits their needs. To comply with government regulations, Teleworth calls the customer, takes billing information and patches in a third-party verification service to ensure that Teleworth is acting as an honest broker. Teleworth then transmits the customers change request to the new company.
Because the long distance market is highly competitive, long distance companies view Teleworth as a valuable marketing tool. For each customer referred, Teleworth receives a commission from the long distance company for as long as the customer uses that company. Says Teleworth CEO, Rick Ratchford, "most long distance service providers overlook the less lucrative small and home office market. Teleworth gives these companies access to the same kind of information and deals offered to big companies."
Teleworth was founded in the beginning of 1997 at a cost of about $500,000. They expect to turn a profit in mid 1998.
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