Tradeshift announced that it has acquired Merchantry for $30 million in cash and stock. Merchantry is a so-called ‘Product information Management (PIM)’ provider. Merchantry helps large organizations successfully grow their e-commerce businesses by building, scaling and streamlining online marketplaces.
Their PIM technology enables organizations to quickly connect to their suppliers, allowing them to manage millions of product SKUs and ensure consistent, accurate product information across multiple online channels.
Merchantry was founded in 2004 to provide e-commerce integration technology to large retailers such as Amazon.com, Marks & Spencer, bebe, and others. Merchantry’s customers include PacSun, La Redoute and Modell’s Sporting Goods.
Jigish Avalani, President and COO of Tradeshift:
“Merchantry’s industry-leading innovation in PIM and its e-commerce domain expertise will extend the power and value of the Tradeshift platform for our customers and their suppliers globally. This acquisition plays an important role advancing Tradeshift’s vision to help companies transform and digitize their supply chain relationships and processes.”
Rick Watson, CEO, Merchantry:
“Merchantry was founded to solve the connectivity, complexities and business challenges that buyers and suppliers face in maintaining consistency and accuracy across vast amounts of product data. The success of our vision will now make an even greater impact through the Tradeshift platform and its ability to transform how businesses transact globally.”
The company’s major investors were Kite Ventures, Greycroft Partners, and e.ventures, with the first outside investment received in 2010.
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