Did you experiment with any other ways to get company descriptions than FullContact? Their bio data from 'social profiles' seems a bit hit and miss or sparse for the companies I tried it out on.
Their social data isn't great, but it was the best alternative and their simple API made us choose it. It must be noted that all of this is a thousand times better than googling each individual company name.
If you're interested in giving our Company Search API (by name) a go, email me michael[at]fullcontact.com and I'll hook you up.
We're constantly trying to improve our company data, social especially, stay tuned for that. That said, I'd love to hear any feedback you have at the same address.