Have you heard, the BigCommerce website builder acquired Feedonomics? That’s right, on July 27th, the eCommerce software platform announced its acquisition of Feedonomics in an asset purchase transaction.
Valued at around $145 million, BigCommerce purchased the assets of Feedonomics with close to $80 million paid at closing. Additionally, it is estimated that up to $32.5 million will be required on the first and second anniversaries of closing.
The BigCommerce website builder may elect to make anniversary payments partially or entirely in shares of its Series 1 common stock, however, the company has stated that U.S. based BigCommerce has fundamentally aided the build of online eCommerce stores so, naturally, this is the next step forward.
As a result of BigCommerce’s services, businesses of all sizes have been able to capitalise upon during the wake of the pandemic. How you may ask? Well, BigCommerce has been the guiding hand for startup businesses as well as small to medium-sized businesses by incorporating tools into their foundations to grow online sales for each company at hand.
It was only last week that the BigCommerce website builder partnered with Latin American eCommerce company ‘Mercado Libre’ to allow merchants to sell their products in Latin America. As we’re sure you already know, this is an area on the globe where the eCommerce market continues to boom, so BigCommerce has jumped on this opportunity for their customers.
Ecommerce spending is expected to surpass $41 billion in the U.S. by the end of 2024 and according to a report published via emarketer.com, BigCommerce is hoping to continue with an upward trend with their latest acquisition of Feedonomics at the forefront of focus.
As part of the newly founded brand deal, the BigCommerce website builder is planning to streamline merchant integrations with over 100 online marketplaces and advertising channels that include (but are not limited to); Google, Facebook, Microsoft Ads, Amazon and Walmart.
Feedonomics work to display products where consumers shop online. By doing this, the company assists online retailers by improving product discovery across various advertising channels and digital marketplaces, such as those mentioned above.
BigCommerce CEO - Brent Bellm made the following statement in regards to their acquisition of Feedonomics:
“With Feedonomics, BigCommerce merchants maximize their omnichannel sales and return on ad spend 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 addition to this, Shawn Lipman, the CEO behind Feedonomics stated that there is an “amazing synergy” between the two companies and we have to say that we quite agree here at Karmoon.
See, businesses are constantly pushing the limits and looking for ways to be better in everything that they do. Online shopping has reached new heights for both the customer and the merchants behind online stores, but of course, it is the job of technologies such as Feedonomics and BigCommerce to step in and work together to fine-tune the areas where there is room for improvement.
What do you think about this revelation in the world of eCommerce that we have covered in today’s article? Feel free to share your thoughts with us, as we’d love to hear your take on ground shaking updates.
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