IPO bound the SaaS platform Netcore Cloud acquired a major share in US-based search personalisation company Unbxd Inc with an estimated $ 100 Mn.
With this acquisition agreement, Netcore Cloud plans to position itself as the world’s leading digital experience platform (DXP). According to its statement, Unbxd’s powerful AI search technology will equip Netcore Cloud to deliver real-time recommendations for its online e-commerce or first-class application and retailer.
Although Netcore has not yet disclosed the acquisition stake, the Bloomberg media report said it acquired 90% of Unbxd Inc. As part of the agreement, there will be no change for Unbxd management as key founders and managers will continue. building and growing a company post this agreement.
In addition, Unbxd will continue to operate as a separate enterprise. It has been reported that Netcore will invest more in Unbxd to enhance its growth in developed markets.
Kalpit Jain of Netcore Cloud said, “the AI and ML tech stack of Unbxd will help Netcore’s customers to track shopper’s interactions with search and implement site-wide personalisation, merchandising, along with shopper-focussed recommendations.”
Founded in 1997 by Jain, Netcore Cloud assists B2C brands and advertisers to build a powerful AI client AI. experience throughout the touch of customer experience. Its stack-filled marketing platform enables digital self-perception so easily and provides real-time analysis, real-time reporting and instant solutions across channels.
Founded in 2012 by Pavan Sondur and Prashant Kumar, Unbxd Inc developed a high-performance AI product acquisition system with great potential. Its search solutions claim to improve the retention and conversion of e-commerce vendors and B2C products. Some of its customers include Mattress Firm, Express, Ashley Homestore, Home Shopping Network, Advance Auto Parts, The Children’s Place, Miter10 and Kookai.
The Mumbai company has 11 offices worldwide and claims to serve more than 5,000 customers worldwide. It lists major brands such as ICICI Bank, Flipkart, Myntra, Airtel, Disney Hotstar, Puma, EaseMyTrip as its customers. In addition, it claims to hold 75% of India and 50% of Asian email traffic in its area.
Most recently, in February 2022, Netcore Cloud partnered with the Indonesian-based market education and learning program GoKampus to improve the quality of user engagement. With this agreement, GoKampus has gained access to a wide range of Netcore Martech solutions.
In October 2021, Netcore Cloud led a $ 3 Mn seed support cycle at the beginning of the adtech Profitwheel to expand its product offering and help scale the sales and marketing team. According to a media report, Netcore Cloud has been in discussions with several banks about the IPO and the formal process will begin in the coming months. Direct to IPO over the next 9-12 months.
Currently, many startups including Meesho, BYJU’s, Swiggy are planning to list in the future. However, in view of the decline in bonds and the volatility of new technology stocks, beginners are now considering delaying their IPO plans until the market turns out to be positive.