Nemo Semret and Giovanna Giammarino founded Invisible Hand Networks, Inc. in 1998. The Head Office is in New York City.
Company and Services
The concept behind Invisible Hand is to provide web services with realtime efficiency and flexibility at the core. The founders got the idea for a new way to approach Internet bandwidth pricing while studying electrical engineering at university.
The name of the company refers to the fact that most of the technology is invisible yet they still can provide a secure, guiding hand for customers.
Invisible Hand uses the Internet as a bandwidth market place where buyers and sellers can exchange according to current needs. Merkato, an offshoot company of Invisible Hand, creates a platform for bandwidth to be purchased using real-time market based prices. This means bandwidth providers can provide specific Internet services based upon the demands of the market, and buyers can enjoy more realistic prices for the actual services they require and use.
Merkato works by using an auction feature where buyers place bids on available bandwidth. A fair market price is then calculated in relation to the bids and then the bandwidth is allocated to each buyer.
Merkato is now being offered as an application to hosting providers, allowing them to maximize on peak times of customer usage and make savings when requirements are lower. Currently, pricing methods are generally set at a monthly price and the same amount must be paid, regardless of usage. The more flexible Merkato system offers a greater scope for flexibility for many providers and their customers. Invisible Hand claims that buyers can reduce their bandwidth costs by up to 30% if they use Merkato.
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