Connexity Acquires PriceGrabber
Marketing services company Connexity Inc. today announced that it has acquired PriceGrabber® a retail lead-generation platform and network. Together the combined company will be one of the world’s largest sources of high intent shopping leads that result in over $2 billion in annual sales for retailers and brands. PriceGrabber’s expansive shopping-focused publisher network offers more than 2,000 retailers marketing access to tens of millions of high intent shoppers each month from leading online shopping destinations such as Yahoo!, Ask.com and PriceGrabber.com.
“We are pleased to combine forces with one of the most respected lead-generation companies in retail,” says Bill Glass, CEO of Connexity. “Our two companies are industry pioneers and putting these exceptional teams together is going to create a powerful retail marketing platform for the future.”
Retailers will benefit from having to manage only a single channel which will both simplify their performance marketing efforts and increase sales.
“Online marketing is complicated, especially with so many distribution channels and sub-channels. Connexity’s broader mission is to simplify customer acquisition and retention for retail-focused marketers. This is a great step forward toward that goal and will give retailers seamless access to multiple selling platforms,” says Mr. Glass.
According to multiple sources, this acquisition will make Connexity by far the second largest product listing lead generation channel for retailers after Google and more than twice as large as similar channels or networks in other companies such as Amazon and eBay.
“For consumers, this combination will maximize the breadth and depth of product content within both our comparison shopping sites and our syndication network. For publishers, it will create a simplified solution to get their product content and monetization from a single API or feed, creating efficiency in the channel, and simplifying tracking and reporting,” adds Mr. Glass.
“Connexity is broadly recognized as a leading marketing partner for retailers. We are excited to bring our scale, our publisher and retailer relationships, our technology platform and our talent to continue building an even more powerful retail marketing platform,” says Jeff Goldstein, President of PriceGrabber.
Terms of the acquisition will not be disclosed.
PriceGrabber is headquartered in Los Angeles with operations across North America and in the United Kingdom.