In its second-largest acquisition, Amazon buys the company for $970 million.
Partnership turns conversations into commerce in Facebook.
March 10, 2011 – Today Adgregate Markets and PowerReviews announce the integration of PowerReviews' leading ratings and reviews solution into Adgregate’s ShopFans. This integration enables ShopFans, Adgregate’s secure social commerce solution, to provide customer reviews and ratings to Adgregate’s clients with Facebook stores. As a result of the partnership, PowerReviews becomes the preferred partner for Adgregate’s Top 500 retail clients and other fast growing brands, who desire best in class technology for product ratings and reviews within their ShopFans stores.
Sierra Trading Post leveraged Adgregate’s ShopFans to launch Facebook’s first PowerReviews integrated storefront, resulting in increased customer engagement and sales driven directly from Facebook fans. Sierra Trading Post, ranked 74th on Internet Retailer’s Top 500 List and 16th within the list’s apparel category, syncs its customers’ product reviews and ratings on its webstore and its Facebook store in real-time. Through this integration, customers can now read, review, and rate products in their Facebook shopping experience as well. Drugstore.com, Beauty.com, OldNavy.com, BananaRepublic.com and Hayneedle.com are other retailers who chose PowerReviews’ and Adgregate’s ShopFans
“Facebook is the consumers’ community of choice,” said Cathy Halligan, SVP Sales & Marketing at PowerReviews. “Only PowerReviews offers Facebook integration into the review itself on retailers’ sites. And, as Facebook shopping continues to develop, we’re partnering with Adgregate to ensure we stay at the forefront of that conversation, and help retailers and brands by moving fans to buy from trusted feedback.”
Booz & Co. estimates that by 2015, the dollar volume of goods sold through social media will rise sixfold, to $30 billion. Yet in order for this market to become viable, best of breed ecommerce technologies must be combined with social media to make Facebook a desired shopping destination and overall positive experience. Booz & Co. reports that 27% of survey respondents said they would be willing to purchase products through Facebook, though the majority of consumers cite security concerns. Adgregate’s ShopFans is the only secure social commerce solution on Facebook, publicly endorsed by security and privacy heavyweights: Symantec’s VeriSign, McAfee, and TRUSTe.
“For Facebook to become more than just another channel for deals and coupons, retailers have to provide best of breed commerce security and technology,” said Henry Wong, CEO, Adgregate Markets, “Proven ratings and reviews technology from PowerReviews and social commerce security from ShopFans make that integral to the overall social shopping experience.”
PowerReviews is the leading provider of customer reviews and social commerce solutions 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 a customer reviews Solution Leader in the Internet Retailer Top 500 survey, PowerReviews works with over 1,100 retailers and brands on over 4,700 websites, including Staples, Drugstore.com, Gardener’s Supply, Diapers.com, Callaway and Jockey. In addition to its Enterprise solution, PowerReviews offers an on-demand solution for small- and medium-sized businesses called PowerReviews Express(powerreviewsexpress.com). PowerReviews also operates a product reviews and recommendation site for consumers, called Buzzillions.com (buzzillions.com). For additional information, please visit www.powerreviews.com.
About Adgregate Markets
Adgregate Markets is the leading provider of secure advertising and social commerce solutions. ShopFans™ turns social shopping on Facebook from conversations into conversions and is the only secure social commerce solution in the market. ShopAds™ guide prospective customers from the point of discovery to the point of purchase entirely within innovative online and mobile ads. SecureAds™ are the world's most secure ads for customer engagement. Adgregate is a privately held company based in the San Francisco Bay Area and is venture-backed by leading investors. Adgregate has received numerous industry awards for its innovative advertising technology, including ad:tech’s White Hot Company, TechCrunch50 Finalist, and AlwaysOn OnMedia 100 Winner, recognizing the top private companies in digital media and advertising. For additional information, please visit www.adgregate.com.