Two big customer review platforms are teaming up: Bazaarvoice just announced that it has agreed to acquire PowerReviews.
The agreement is for up to $31 million in cash, plus stock, bringing the total estimated value to be $151 million. Bazaarvoice says the acquisition should close before the end of July.
The companies plan to combine their technology, content, and data. Both offer social commerce products that allow retailers and brands to collect and syndicate customer reviews, as well as other content. The release says PowerReviews’ self-service product will allow Bazaarvoice, which has been focused on larger companies, to expand into the small- and medium-sized market.
The combined company supposedly serves nearly 1,800 clients globally, including half of the Internet Retailer 500.
PowerReviews has raised a total of $37 million in funding from Menlo Ventures, Draper Richards, Lehman Brothers, Tenaya Capital, Four Rivers Group, and others. Bazaarvoice, meanwhile, went public earlier this year.
Bazaarvoice is a Software as a Service (SaaS) company that turns social media into social commerce for the world’s best global brands by enabling authentic customer-powered marketing. We achieve that by first letting consumers create and share ratings, reviews, questions, answers, and stories about products and brands on client websites. We then syndicate that content across the Web and through the channel to reach shoppers wherever they are. This customer-generated content has a tremendously positive influence on purchase decisions. It is...
PowerReviews is the leading provider of social commerce solutions, including customer reviews, to retailers and brands. The company’s innovative tag-based approach to collecting, organizing, structuring and analyzing user-generated content significantly boosts product sales and customer engagement. Recognized as the customer reviews Solution Leader in the Internet Retailer Top 500 survey, PowerReviews works with over 1,000 retailers and brands on over 3,500 websites, including Staples, Drugstore.com, Gardener’s Supply, Diapers.com, Callaway and Jockey. In addition to its Enterprise solution,...
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