London-based BeMyEye is a leading crowdsourced perfect store data as a service provider in Europe. In a recent development, the company announced the acquisition of Streetbee, a Russian crowdsourcing and image recognition provider. While the exact amount of acquisition remains undisclosed, the entire business of Streetbee including its team and technology have been acquired.
Founded in 2011 by Gian Luca Petrelli, BeMyEye operates in a slew of countries in Europe and is headquartered in the UK. Notably, the founders of Streetbee Andrey Elisev, Kirill Nepomnyashchiy and Vladimir Lyzo will join as CMO, VP Sales Russia and CIS and Head of Image Recognition Development respectively.
BeMyEye’s 3rd acquisition
Streetbee is not the first one to be acquired by BeMyEye. The company already acquired LocalEyes, its largest French competitor and Task360, a UK operator in 2016 and 2017 respectively. These acquisitions were made to consolidate its position in the industry and deliver a universal view of Perfect Store execution to its customers.
Launch of Perfect Shelf
The acquisition of Streetbee, a Russia-based crowdsourcing and Image Recognition provider lets BeMyEye launch Perfect Shelf. It is a game-changing retail execution monitoring product, which will let Consumer Group (CPG) companies get objective and actionable in-store insights such as share of shelf and planogram compliance. In simple words, it means the exact placement of products of the shelf of a store.
BeMyEye platform lets companies and brands crowdsource in-store data such as stock levels of a product, the way it is displayed, whether it is marketed or sold the way the staff and retailers were instructed and more.
Image Recognition is beneficial
With the use of the image recognition technology of Streetbee, BeMyEye can speed up the data processing. Eventually, the platform becomes more scalable. Also, it will let the London-based ‘Uber of Mystery Shoppers’ expand to Russia and CIS regions. With its existing presence in Europe spanning over 1.5 million data gatherers, the platform will let consumer goods companies get a consistent view of in-store performance in 21 countries.
Effectively reduces total cost of ownership
There is increasing pressure for growth and efficiency forcing consumer goods companies to invest in image recognition technology as it will reduce the Total Cost of Ownership. With Perfect Shelf, these companies can adopt a Lean Go To Market strategy that will eliminate waste and enhance field performance.
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