NimbleCommerce and Group Commerce Merge to Accelerate Expansion of Their Global Offers Network and E-commerce Platform
May 02, 2013 12:00 ET
Combination Creates Largest Offers and Promotions Network With Clients in 14 Countries
SANTA CLARA, CA and NEW YORK, NY--(Marketwired - May 2, 2013) - NimbleCommerce, the largest offers and distribution network, today announced it is merging with Group Commerce, a leading e-commerce company for media and brands. Combining the companies creates the world's largest e-commerce platform and distribution network, and will operate under the NimbleCommerce brand.
As part of the merger, Group Commerce customers will be able to participate in the NimbleCommerce Offers Network, enabling further distribution and inventory selection opportunities that will drive revenues. The combined entity includes more than 100 marquee publishers and media companies in 14 countries including: Cumulus Media, Digital First Media, The New York Times Company, DailyCandy, Golf Channel, Johnston Press, The Evening Standard, Thrillist, Restaurant.com, and many others.
By combining the two companies' local marketing expertise, merchandising knowledge and cutting-edge e-commerce technologies, NimbleCommerce will be able to more efficiently drive revenue for media companies, merchants and third party e-commerce offer publishers.
"Combining the two companies creates a stronger and profitable company that processes hundreds of millions of dollars annually," said Prashant Nedungadi, founder and CEO of NimbleCommerce. "Accordingly, in 2013 we expect to leverage our prowess to further innovate, significantly expand the customer base, and increase revenues by over 75% over 2012."
"This merger enables us to combine knowledge, resources and a network of high quality clients," said Jonty Kelt, co-founder and CEO of Group Commerce. "It accelerates our ability to provide media companies and brands with e-commerce monetization opportunities -- a strong trend as outlined in our recently commissioned Forrester Research."
Financial terms of the merger were not disclosed.
NimbleCommerce is the largest enterprise offers and promotions platform that connects media companies to merchants and buyers through the NimbleNetwork -- the largest offers network in the world with nearly 100,000 merchants worldwide and over 20 million buyers. The company enables audience owners and large publishers to create new revenue streams through ecommerce, paid offers, free coupons, and other local marketing programs. To learn more, visit http://www.nimblecommerce.com.
About Group Commerce
Group Commerce is a market-leading platform for publishers who want to succeed in e-commerce. The company serves the three groups that make an e-commerce program work: the consumer, the publisher, and the merchant. Founded in 2010, Group Commerce is backed by Spark Capital, Carmel Ventures, Jafco Ventures, Lerer Ventures, and Bob Pittman. Clients include Boston.com, CBS Local, DailyCandy, Entercom, The New York Times Company, Thrillist, and more.
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