Amsterdam-based Hatch, a leading European omnichannel commerce solutions scale-up, has been acquired by California-based PriceSpider. The acquisition will help Hatch and PriceSpider to offer a more comprehensive commerce enablement solution and digital shelf analytics to companies around the world.
An acquisition to build complete commerce solution
Hatch had raised a total of €3M ahead of the acquisition, but the terms of the deal were not disclosed. PriceSpider sees this as an opportunity to expand its retail coverage power touchpoints and also help companies to better understand customer buying patterns to optimise their touchpoints globally.
Hatch offers a Where to Buy technology that allows consumers to connect with sales channels of the world’s biggest brands and purchase products when and where they consider best for them. With e-commerce growing rapidly, brands need access to data that will help them drive more sales online. With the acquisition, PriceSpider sees itself uniquely positioned to serve global brands within a single, expansive global retailer network.
The deal will see Hatch’s omnichannel feed combined with PriceSpider’s proprietary crawl technology to enhance customer journeys and better optimise digital shelf worldwide. “Like PriceSpider, Hatch’s mission is to make the world shoppable by connecting brands to consumers and consumers to their preferred retailers,” says Joris Kroese, CEO of Hatch.
“By combining Hatch and PriceSpider’s offerings, we make a giant step towards that mission and there is no other commerce enablement technology that can serve brands better,” adds Kroese.
The US e-commerce Forecast 2021 Report from eMarketer estimated that consumers will spend more than €815B on e-commerce in 2021 in the US alone. Additionally, Deloitte observed in its 2021 Retail Industry Outlook Report that supply chain resiliency requires end-to-end integration for retailers to anticipate and meet consumer demands and disruptions.
Hatch: what you need to know
Hatch is a Dutch e-commerce success story that has grown from a startup to a scaleup in under 10 years. Headquartered in Amsterdam, the scaleup generates an ARR of more than €8.7M and offers an omnichannel SaaS solution based on its Where to Buy technology.
The scaleup makes brand websites shoppable by adding retail purchase options to the product page. It connects brands directly with retailers, and directs buyers to a wide selection of over 2,000 retailers worldwide. The omnichannel solution helps consumers to shop a brand’s product from social media, their website, phone, tablet, or computer.
Hatch has over 100 employees and operates in over 80 countries with offices in EMEA, APAC and CIS regions. Brands using Hatch get live data insights on product availability, which results in accurate price and in-stock information. Hatch says over 100 million consumers passed through its platform in 2021, translating a purchase of half a billion dollars.
PriceSpider: what you need to know
PriceSpider is a data-driven tech company that helps brands and manufacturers sell more of their products online. The Brand Commerce Platform from PriceSpider includes shoppable where to buy solutions, digital shelf analytics, and minimum advertised price (MAP) technology. The company is listed among the Inc. 5000 fastest-growing private American companies for the past two years in a row.
“With the continued, rapid growth of ecommerce, brands need access to data that will help them drive more sales online, and with the acquisition of Hatch, PriceSpider is now perfectly positioned to serve global brands within a single, expansive global retailer network,” says Sean Downs, CEO of PriceSpider. “By combining Hatch and PriceSpider data acquisition technologies, PriceSpider becomes the most robust, data-rich real-time platform in the world, solidifying PriceSpider’s clear market advantage in enhancing customer journeys and optimising the digital shelf worldwide.”
PriceSpider sees itself serving more than 2,000 of the world’s most renowned brands across the globe with the acquisition of Hatch. The acquisition will also help Hatch expand its “elusive local retail partner network” from Europe to Asia and London to Taipei.
“Over the past two and a half years, PriceSpider has acquired ORIS Intelligence, adding a best-in-class MAP solution to PriceSpider’s product portfolio, as well as CommerceConnector, which further expanded global retailer partnerships across Europe and Australasia,” says Scott Hoch, partner at Frontier Growth. “By bringing Hatch into the PriceSpider family, PriceSpider is poised for significant growth in ecommerce to outpace the technological demands global consumer brands need.”