In its second-largest acquisition, Amazon buys the company for $970 million.
In advance of IRCE next week, Channel Intelligence also announced two new hires.
In the run-up to the Internet Retailer Conference & Exhibition 2011 next week in San Diego, vendor Channel Intelligence Inc., or CI, has announced a major boost in sales for its clients, as well as two new company appointments.
In the first quarter, sales that originated from product searches on Google jumped 58% compared with the same time last year for CI clients, which include Best Buy Co. Inc., Target Corp. and The Neiman Marcus Group Inc.
“We’ve known for a long time that product search is where our clients would ultimately see the highest returns,” says Channel Intelligence CEO Rob Wight. “In addition to this growth in Q1 2011, we saw an astounding 180% increase in client revenue driven by CI product search from in 2010.”
The product search optimizer uses detailed product data feeds and photos, as opposed to just text, to boost retailers’ rankings in search engines.
The vendor also announced two new appointments this week. Frank Lane is the new senior vice president and chief marketing officer. Founder of FrankLane Ltd., a marketing consulting firm, Lane is the author of “Killer Brands, Create and Market a Brand That Will Annihilate the Competition” and is a former president of Neutrogena Products.
“CI was an unexpected move but after years of building advanced marketing techniques for brick-and-mortar companies, CI offers me the opportunity to do the same for the digital world,” Lane says.
Channel Intelligence also has named Thomas Geraghty to a newly created position of chief privacy officer. He will write company privacy policies and oversee data security and PCI compliance.
Since joining CI in 2000, Geraghty has held various positions in operations, product development, and business integration.