Yotpo Acquires Swell Rewards to Connect Reviews, Loyalty, and ROI
NEW YORK (PRWEB) August 09, 2018 -- Yotpo, the leading customer content marketing platform, today announced its first acquisition: Swell Rewards, a Boston-based provider of premium incentive marketing solutions for eCommerce and omnichannel brands. The move expands Yotpo’s suite of commerce marketing technology solutions preferred by top direct-to-consumer (D2C) brands like Glossier, 1-800-Flowers, and Away Travel. Brands will be able to manage reviews, visual marketing, consumer insights, rewards, and referrals from a single platform uniquely designed to meet their customer content, advocacy, engagement, and retention needs.
Yotpo and Swell Rewards have a pre-existing integration that enables commerce brands to reward customers for submitting and sharing user-generated content. The acquisition will enhance those capabilities and set the stage for new solutions that drive business growth. Yotpo’s proprietary artificial intelligence (AI) engine—which facilitates smarter and faster solutions for collecting, managing, displaying, and analyzing high-quality customer content—will be extended to optimize Swell’s existing product line and drive future innovation.
“The current commerce marketing stack is bloated—too many disparate point solutions are making brands less agile, efficient, and competitive than they could be,” said Tomer Tagrin, Co-founder and CEO, Yotpo. “By acquiring Swell Rewards, Yotpo will be able to offer a one-stop destination for activating customer advocacy and brand loyalty. And, using our AI, we’ll be able to unlock product and data synergies that will improve acquisition, increase sales, and maximize customer lifetime value. We’re thrilled to forge the next chapter of eCommerce with Swell Rewards, whose team, culture, priorities, and vision are a true complement to Yotpo’s.”
Like Yotpo, Swell Rewards is a provider of cutting-edge technology that supported the rise of D2C brands and surge in eCommerce sales (now reaching upward of $450B according to Mary Meeker and Kleiner Perkins), boasting rewards and referrals programs that deliver an average 9x ROI. Since it was founded in 2015, the company has experienced an average year-over-year growth of 313% and serves thousands of brands including mutual Yotpo customers UNTUCKit, Third Love, Tomboy X, Soko Glam, and Quay Australia. Swell Rewards’ Co-founder and CEO Josh Enzer and Co-founder and CTO James Peerless will join Yotpo to lead strategy and product development for incentive marketing solutions.
“Swell Rewards and Yotpo are on an accelerated path to deliver some truly amazing products for brands at the scale and speed that today’s commerce marketplace demands,” commented Enzer and Peerless. “We are committed to redefining the way brands and consumers unite around loyalty and user-generated content, while advancing AI-driven client solutions.”
"MVMT’s tremendous growth really speaks to our passionate customer community, and we owe them an experience that celebrates as well as rewards them,” said MVMT Director of eCommerce Alicia Radabaugh. “We’ve leveraged integrations with Yotpo and Swell Rewards to create those kinds of experiences, but with the acquisition, we’re excited to see new features and solutions that will help us build deeper, more meaningful relationships with our customers.”
The acquisition marks another milestone for Yotpo, which over the last three years has experienced an explosive period of growth--an 823% increase in annual recurring revenue, a 200% increase in annual contract value on average, and 487% increase in brand customers. For additional information on the acquisition, visit the Yotpo blog.
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About Yotpo
Yotpo provides brands with everything they need to win in a customer-centric world. Yotpo’s suite of integrated solutions for user-generated content marketing, loyalty and referrals helps commerce companies accelerate growth by enabling advocacy and maximizing customer lifetime value. With Yotpo, brands can effectively leverage social proof to increase trust and sales, cultivate loyal customer advocates, and make better business decisions based on customer feedback. Yotpo proudly serves thousands of brands including Patagonia, Away Travel, Glossier, and MVMT Watches. An official partner to Google, Facebook and Shopify, Yotpo has raised $101 million in funding and has over 300 employees globally. Visit http://www.yotpo.com for details.
About Swell Rewards
Swell Rewards, a Yotpo company, is an "incentive marketing" platform; their highly-customizable software has helped thousands of e-commerce and omnichannel merchants administer beautifully on-brand rewards, referral, and influencer marketing programs. Swell was founded in 2015, and is headquartered in Boston, MA. For more information, please visit http://www.swellrewards.com.
Greg Mondshein, SourceCode Communications, https://www.sourcecodecommunications.com/, +1 (352) 246-5532, [email protected]
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