In its second-largest acquisition, Amazon buys the company for $970 million.
Leading Performance Advertising Company Surpasses $1 Billion in Merchant Sales.
Lexington, MA, May 4, 2011 — Cartera Commerce, the leading provider of multi-channel merchant networks and performance advertising solutions, today announced record revenues for the year ending December 31, 2010. The company has adjusted its financial year-end to align with the calendar year and in 2010 achieved triple digit growth on a pro forma basis for the fourth consecutive year. Cartera also surpassed $1 Billion in merchant sales through its multi-channel performance advertising network, driven by the industry’s leading transaction marketing platform, rapid adoption by clients and merchants, and advertising reach of more than 150 million consumers.
“With 86% of U.S. households using discounts or rebates when shopping in-store and online, Cartera is experiencing unprecedented adoption by merchants, banks, loyalty programs and consumers, and is well positioned to meet the demand,” said Tom Beecher, president and CEO of Cartera Commerce. "Cartera’s past and future growth is directly linked to the value we drive to clients, merchants and consumers. We look forward to another year of strong growth powered by our investment in product innovation and partner success.”
Record Corporate Growth
• Record growth: Cartera achieved triple digit revenue growth for the fourth consecutive year in 2010.
• Hiring and expansion: To accommodate significant hiring and organic growth, the company expanded its offices, doubling its square footage in its Boston headquarters.
• New name and brand: The company rebranded as Cartera Commerce, signaling a new stage of growth. The Spanish word for "wallet," the Cartera brand reflects the company's expanded vision to provide value to consumers, retailers, banks and loyalty programs through targeted shopping programs.
More Than 30 New Program Launches and Expansions
• Cartera launched and expanded more than 30 new shopping programs with leading financial companies and loyalty programs
• American Airlines expanded the AAdvantage eShoppingSM mall enabling AAdvantage members to earn AAdvantage miles when shopping in retail stores as well as online.
• Wells Fargo launched the Earn More Mall® site, a new and comprehensive shopping rewards program with bonus point and discount offers at over 700 top-name merchants.
• United Airlines launched the Mileage Plus Shopping website, providing Mileage Plus frequent flyers with a new shopping experience that brings more ways to earn award miles with hundreds of retailers.
Merchant Network and Advertising Growth
• Merchant Revenue: Cartera surpassed the milestone of $1B in sales driven through merchants in Cartera’s merchant network.
• Expanded Merchant Network: Cartera now has the largest in-store and online merchant network in the industry with over 3000 merchant partners and top brand name retailers including A&P, Bed, Bath & Beyond, Buca di Beppo, Groupon, Hess, Lowe’s and Waldbaums.
New Innovative Solutions Released
• New Solutions for Debit Card Issuers: In light of regulatory changes impacting bank revenue and strategy, Cartera introduced new card-linked offers and merchant-funded rewards solutions tailored to bank and card issuer needs- creating a compelling alternative revenue stream and rewards funding model to offset future cuts in interchange fees.
• Statement Offers: Delivering offers directly within a customer's online banking statement, Cartera’s Statement Offers solution enables precise, micro-targeting based on customers’ transaction history.
• Local Offers: A first for the industry, Cartera’s Local Offers solution leverages Cartera’s exclusive partnerships with Valpak and other national partners to deliver more than 50,000 customizable deals from local businesses to millions of consumers in Cartera’s programs.
Executive Team Expanded With Talented Industry Veterans
• Bank of America and MBNA veteran Katie McEntee joined Cartera as vice president of financial institutions programs.
• John Duncan, former executive at Next Jump, MasterCard, Citibank and First Data Corporation, joined Cartera as senior vice president of sales and business development.