CEO Sharon Price John says Build-A-Bear’s old e-commerce system is a big reason for disappointing online sales in December.
Facebook and other social networks use the vendor’s data to let marketers target shoppers based on their offline actions.
Datalogix, a vendor that connects consumers’ offline purchases to their online activity, has raised $45 million.
The vendor gathers consumer offline purchasing data from retailers’ loyalty cards. It also works with other data brokers to gain access to consumer behavior. Datalogix says it has information on about $1 trillion worth of consumer spending. Datalogix bundles that information into anonymous profiles that it sells to companies like Facebook and Twitter, which then use it to help marketers better target consumers based on their likely offline purchases. It also sells those profiles to ad exchanges.
Asset management firm Wellington Management Company LLP led the round with existing investor Institutional Venture Partners also participating. The round comes a little more than a month after equity investor Breyer Capital announced it made what it called a “significant investment” in Datalogix and Jim Breyer, the firm’s CEO, joined Datalogix’s board.
Datalogix plans to use the funding to develop new audience and measurement products.
“Data, technology and analytics are transforming marketing,” says Datalogix CEO Eric Roza. “We see a growing opportunity to enhance marketing by tightening the connection between media exposures and consumer product purchases and this funding will be put to good use in building the dialogue between brands and their best customers and prospects.”
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