MarTech Series-Marketing Technology Insight
Quartile, a leading advertising optimization platform for sellers in the top e-commerce market, today announced that it has acquired Sidecar, a performance marketing technology provider for e-commerce retailers and brands, applicable to all major advertising platforms, including Google, Microsoft Bing, and Facebook , Instagram and Amazon.
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The two companies will merge under the name Quartile to develop the brand into the world's largest cross-channel e-commerce advertising platform. Both platforms apply machine learning and natural language processing to provide brand marketers with data-driven strategies and best practices, while also providing first-class reporting and advertising management.
Quartile expects that the acquisition will double its managed advertising spending on all platforms, reaching US$2 billion by 2021. Unilever, Burt's Bees and Thrasio are one of more than 5,000 brands currently using these platforms on e-commerce channels such as Amazon, Google, Instacart, Walmart, Facebook and Shopify. The combined company will have customers in 26 countries.
"By combining Sidecar's first-class solutions and expertise management activities for DTC e-commerce merchants with our proprietary artificial intelligence-driven analysis and optimization platform, we will create the most comprehensive and powerful e-commerce suite," the co-founder Said Daniel Knijnik. -Founder and CEO of Quartile. "The complementary businesses, products and relationships of the two companies will provide unparalleled benefits to our combined customers, employees and other stakeholders in different markets."
"Retail marketers and small businesses have encountered great difficulties when they appear in the online market. Only 0.1% of products account for about 80% of e-commerce market sales, so brands realize that they need a total solution to help them in Compete on all markets and direct-to-consumer websites," Knijnik added.
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In recent years, due to fierce competition among e-commerce merchants, advertising expenditures have increased, and both Quartile and Sidecar have grown exponentially. It is estimated that by the end of 2021, Amazon's advertising revenue will grow to 24.47 billion U.S. dollars, a year-on-year increase of 55.5%, narrowing to that of Google and Facebook (its advertising revenue growth is 34% and 43%, respectively). These platforms provide e-commerce marketers with a key advantage in this fast-growing industry.
Sidecar founder and CEO Andre Golsorkhi said: "We share the same passion with the Quartile team, which is to help small businesses and large retailers increase exposure, shopping audiences and brands across channels." Continue to dig for the final example for them as the challenges become more complex. By combining the capabilities and technologies of Sidecar and Quartile, we will continue to ensure that retailers rely on our high-performance marketing."
The terms of the acquisition were not disclosed. The combined business will include a team of more than 300 people. Rockbridge Growth Equity, a private equity firm based in Detroit, initially invested a minority stake in Quartile in September last year, but will remain the main institutional investor in this transaction. Existing Sidecar shareholders will also own substantial shares in the Quartile entity after the acquisition. Investment bank Canaccord Genuity acted as exclusive financial advisor to Quartile and Rockbridge in the transaction.
"We are very happy to work with the Sidecar team," said Kevin Prokop, founder and managing partner of Rockbridge. "The Sidecar team has built an extraordinary business. We believe that the combination of Quartile and Sidecar has created a unique company that has unique advantages to seize exciting opportunities in the e-commerce marketing industry."
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