Boomerang Commerce Rebrands as CommerceIQ™ After the Acquisition of its Retail Analytics Platform by Lowe's
May 20 2019 - 2:00PM
Business Wire
Following the announcement that Lowe’s Companies Inc. (NYSE:
LOW) has acquired the Retail Analytics platform of Boomerang
Commerce, Inc., Boomerang has announced it will rebrand and operate
as CommerceIQ™ focusing on helping consumer brand manufacturers
succeed on Amazon.
Boomerang Commerce was founded in 2012 by Guru Hariharan, an
Amazon and eBay veteran, and is based in Mountain View, CA with
offices in Seattle, Chicago and Bangalore. Boomerang Commerce
offered 2 market-leading solutions i) a retail analytics solution,
and ii) CommerceIQ™, an insights and automation platform for
consumer brands selling on Amazon.
Hariharan said, “This transaction will allow us to significantly
accelerate our product roadmap and invest in customer success
infrastructure for CommerceIQ™. We look forward to directing the
full effort of our company to help our brand-manufacturer customers
win market share in their e-commerce business.”
CommerceIQ™’s vision is to power intelligent commerce.
CommerceIQ™ is the industry’s first and only unified Amazon Sales,
Advertising, and Operations platform trusted by leading consumer
brand manufacturers to simplify their Amazon business and amplify
sales, profits, and share. 8 of the Top 50 consumer brand
manufacturers and 500+ brands accounting for over $1B in annual
Amazon sales and marketing spend rely on CommerceIQ’s machine
learning and automation technology to power their Amazon
business.
Karan Mehandru, General Partner at Trinity Ventures and an early
investor in Boomerang Commerce adds, “We invest in companies and
teams that imagine, build, create value and disrupt the status quo.
The Boomerang Commerce team has certainly delivered on that promise
via its retail analytics solution. Looking ahead, we are extremely
bullish on CommerceIQ™ and will be doubling down our support of the
solution to accelerate the already impressive logo and revenue
momentum achieved so far, and success that brand manufacturers are
realizing.”
About CommerceIQ™
CommerceIQ™, the world’s first and only unified Amazon platform,
enables brands to achieve profitable sales growth on Amazon by
improving the operational efficiency of their Amazon e-commerce
business using machine learning and automation technology.
CommerceIQ™ unifies Amazon sales, advertising, operations, and
competitor data on one platform, applies machine learning to
surface latent inefficiencies and growth opportunities, and
automates actions to realize the benefits from these opportunities.
Leading consumer brands that utilize CommerceIQ’s automation
capabilities have reduced out of stock rates by up to 32%,
increased conversion rates by at least +15%, and generated on
average a +12% incremental sales lift in the first quarter after
launch. For more information, visit CommerceIQ.ai where you can
also request a demo.
For CommerceIQ™ related queries, contact pr@commerceiq.ai
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version on businesswire.com: https://www.businesswire.com/news/home/20190520005655/en/
Pradeep Subbarayanpradeep.s@commerceiq.ai
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