BigCommerce (BIGC) has acquired Feedonomics
- S&P ends modestly lower as rising Treasury yields offset robust retail data
- Electronic Arts (EA) Rebounds on Reaffirmed Guidance Despite Battlefield 2042 Delay, Be Concerned But Not Worried Says Analyst
- U.S. retail sales surprise to upside in strong boost to economy
- Chat Platform Discord Raises $500 Million, Valuation More Than Doubled In Less Than a Year
- Dollar index climbs after U.S. retail sales show surprise rebound
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced it has acquired Feedonomics in an asset purchase transaction. As a full-service data feed management platform, Feedonomics helps mid-market and enterprise merchants succeed on hundreds of advertising channels and marketplaces by ingesting, unifying, enhancing, and syndicating product data, and then syncing the resulting order data back into existing systems to streamline operations.
“This acquisition reflects our strong belief that Feedonomics offers the world’s best product feed optimization and syndication solution for merchants looking to optimize their advertising and selling via search engines, ad networks, social media sites and marketplaces. On average, these channels represent ecommerce merchants’ largest non-direct source of sales and one of the largest spending line items,” said Brent Bellm, CEO at BigCommerce. “With Feedonomics, BigCommerce merchants maximize their omnichannel sales and return on ad spend (ROAS) by connecting, transforming and enhancing their product data across hundreds of global channels. The combination catapults our ability to deliver the world’s most powerful ecommerce platform for omnichannel selling.”
In the US, ecommerce channel ad spending is expected to surpass $41 billion by the end of 2024, representing nearly 15% of all digital ad spend1. Together, BigCommerce and Feedonomics will provide merchants with the ability to seamlessly connect the dots between their back-end operations and their sales, marketing and advertising channels to drive higher ROAS, higher conversion and ultimately, higher GMV.
“Early on in our relationship with BigCommerce, we recognized the amazing synergy between our two organizations, and have found both companies to be completely aligned with respect to our visions, market approach and culture,” said Shawn Lipman, CEO at Feedonomics. “With BigCommerce servicing the critical layer of the ecommerce stack and Feedonomics providing best-in-class technology and service to list products everywhere, merchants of all sizes will be able to take advantage of our true omnichannel ecommerce offerings, to grow their businesses in an increasingly digital-first world.”
“When it comes to data feed manipulation and syndication, no company comes close to Feedonomics – we’ve found it to be the most flexible platform for manipulating data feeds,” said Ryan Garrow, director of partnerships and client solutions at Logical Position. “The joint technology of BigCommerce and Feedonomics, when partnered with an agency to help support feed optimization and management, creates a powerful solution to help improve the effectiveness of their search and ad spend and, in turn, achieve higher site traffic and revenue.”
“The efficiency with which Feedonomics accurately maps our product data to the Google schema and then extends that to other channels has driven significant business benefits for us in recent years,” said Ken Natori, president at Natori. “Combining Feedonomics’ data feed management with the omnichannel capabilities natively available in BigCommerce creates an outsized opportunity for businesses like Natori to leverage enriched product data directly within new marketplaces, social channels and ad networks, ultimately creating a more unified shopper experience.”
"As a company that manages more than 50,000 SKUs and sells everyday essentials across seven distinct channels, the combination of BigCommerce and Feedonomics is a great solution to help ensure we're maximizing our data optimization — especially on established channels like Amazon, eBay and Google,” said Ghiselle La Russo, head of marketplaces at Vitabox. “It allows us to treat BigCommerce as our central hub, then use Feedonomics to transform that data, which provides the best ROI for the effort rather than manually working through each channel individually."
BigCommerce acquired the assets of Feedonomics for up to approximately $145 million, with approximately $80 million in cash paid at closing and up to $32.5 million to be paid at each of the first and second anniversaries of closing or upon the earlier achievement of certain milestones. BigCommerce may elect to make the anniversary payments partially or entirely in shares of its Series 1 common stock in lieu of cash.
For more information about the combined benefits of BigCommerce and Feedonomics, visit https://www.bigcommerce.com/dm/bigcommerce-acquires-feedonomics.
1 “US Ecommerce Channel Ad Spending, 2019-2024.” Insider Intelligence. March 1, 2021.
Conference Call Information
BigCommerce will host a conference call and webcast today, July 27, 2021, at 4:00 p.m. CT (5:00 p.m. ET) to discuss the acquisition. The conference call can be accessed by dialing (833) 519-1347 from the United States or Canada or (914) 800-3909 internationally with conference ID 4355557. The live webcast of the conference call and other materials related to the acquisition can be accessed from BigCommerce’s investor relations website at http://investors.bigcommerce.com.
Following the completion of the call through 8:00 p.m. ET on Tuesday, August 3, 2021, a telephone replay will be available by dialing (855) 859-2056 from the United States and Canada or (404) 537-3406 internationally with conference ID 4355557. A webcast replay will also be available at http://investors.bigcommerce.com for 12 months.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Int'l Flavors & Fragrances (IFF) Appoints Glenn Richter as EVP and CFO, Raises Sales Guidance
- Broadway Financial (BYFC) Reports Board Change
- W.R. Grace & Co. (GRA) Licenses UNIPOL PP Process Technology to GAIL Limited
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesTwitter, S3, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!