Tradeshift strikes $30 million deal to buy Merchantry
12 August 2015 | 3563 views | 0
Tradeshift, the fastest growing supplier collaboration platform, announced that it has acquired Merchantry, a leading cloud-based product information management (PIM) provider for $30 million in cash and stock.
“Merchantry’s industry leading innovation in PIM and its e-commerce domain expertise will extend the power and value of the Tradeshift platform for our customers and their suppliers globally.” said Jigish Avalani, President and COO of Tradeshift. “This acquisition, on top of our successful strategy to add the richest best-in-class third-party supply chain apps on a single integrated platform, will boost our growth trajectory.”
This acquisition plays an important role advancing Tradeshift’s vision to help companies transform and digitise their supply chain relationships and processes. Merchantry’s technology will allow suppliers of all sizes to upload and manage their product, inventory and pricing information on the Tradeshift platform. This is expected to significantly increase the value of the Tradeshift network to suppliers because they can be found and get more business. The acquisition will also help increase monthly transactions on the platform, which grew 200% in the last month alone.
Merchantry helps large organisations successfully grow their e-commerce businesses by building, scaling and streamlining online marketplaces. Their PIM technology enables organisations to quickly connect to their suppliers, allowing them to manage millions of product SKUs and ensure consistent, accurate product information across multiple online channels. Some of Merchantry’s customers include PacSun, La Redoute, Modell’s and LivingSocial.
“Merchantry was founded to solve the connectivity, complexities and business challenges that buyers and suppliers faced in maintaining consistency and accuracy across vast amounts of product data.” said Rick Watson, CEO, Merchantry. “The success of our vision will now make even greater impact through the Tradeshift platform and its ability to transform how businesses transact globally.”
Merchantry was founded in 2004 to provide e-commerce integration technology to large retailers such as Amazon.com, Marks & Spencer, bebe, and others. The company’s major investors were Kite Ventures, Greycroft Partners, and e.ventures, with the first outside investment received in 2010.