Boomerang Commerce Rebrands as CommerceIQ™ After the Acquisition of its Retail Analytics Platform by Lowe’s
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 20, 2019--
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.”
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 email@example.com
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CONTACT: Pradeep Subbarayan
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
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