Bright Data, the web data platform, has announced the acquisition of eCommerce insights provider Market Beyond. With this acquisition, Bright Data adds digital shelf analytics to its already comprehensive data offerings, introducing its new division – Bright Insights.
What does the acquisition mean for Bright Data?
Market Beyond’s team will join Bright Data’s 400+ strong team, where they will lead the newly established Bright Insights division. This dedicated team will roll out Bright Insights to the firm’s enterprise retail client base with plans to expand in the future to further domains.
Through Bright Insights, marketplaces will now be able to gain quality, reliable web data and critical business insights from one place. This will allow brands to create strategies based on quality-driven data insights and, in turn, optimize and advance their business performance.
Since launching in Tel Aviv, Israel, in 2016, Market Beyond has worked with large brands and manufacturers within the eCommerce sphere to provide an accurate picture of their and their competitors’ market share in the eCommerce landscape. Market Beyond has grown significantly and now has a global footprint with a dedicated US focus, where its client base includes multiple Fortune 500 brands, such as Home Depot, eBay, Overstock and others.
What were the executives’ thoughts on the acquisition?
Commenting on the acquisition, Market Beyond CEO Yuval Yifrach said, “This partnership not only signals a new chapter for Market Beyond but affirms our commitment to providing market-leading data-driven insights to leading businesses around the world.”
“Market Beyond’s capabilities complement Bright Data’s industry-first technology perfectly. This deal, as well as the launch of Bright Insights, will allow us to continue providing market intelligence to brands and retailers and extend our reach to new markets,” Yifrach said.
“We have been working closely with Bright Data’s technology for over two years and we look forward to continuing to work alongside the entire Bright Data team as we create Bright Insights and push the boundaries of what is possible within the data-driven analysis space.”
“The acquisition of Market Beyond, and the launch of Bright Insights, will allow retail sphere leaders to seamlessly get the real-time web data they need as well as the actionable insights crucial for split-second decision-making,” commented Bright Data CEO Or Lenchner.
“Bright Data’s focus on innovating web data products supports thousands of customers around the world. The introduction of Bright Insights will take data analysis to the next level. We look forward to welcoming the Market Beyond team into Bright Data’s expanding family, and we are excited about the positive impact this will have on the data industry,” he said.