Chennai: Global ecommerce software platform Assembly on Monday said it has acquired Chennai-based PipeCandy , making it the first Indian vertical data-as-a-service (DaaS) company to be acquired by a US entity. Financial details of the deal were not disclosed. This marks Assembly’s seventh acquisition, other significant acquisitions by the company include Helium 10, Refersion and Pacvue.
Assembly believes that external data provides perspective that companies don’t have access to internally. The company has a wide dataset — spanning marketplace, social and affiliate ecommerce performance of merchants. PipeCandy claims to be the first and largest, vertical-focused data company out of India – covering 5.4 million ecommerce companies, of which 250,000 are DTC brands.
“With PipeCandy, we now unlock a 360-degree view of e-commerce performance of brands. PipeCandy has the best data set on DTC e-commerce in the industry and Assembly is now poised to be the authority of omni-channel e-commerce market intelligence,” Ben Collier , Head of Product at Assembly told ET.
Pipecandy analyzes the complex data sets of the global DTC market and delivers insights to marketers, investors, analysts and sales teams at logistics, tech, and financial institutions. PipeCandy’s market data and insights power strategic decisions, and their analytical models estimate that nearly $500B in GMV is cleared by 5.4 million of ecommerce companies.
“We quintupled our coverage through 2021 and our customers include some of the most prominent companies and brands in the lending, financial services, SaaS, and logistics industries,” Ashwin Ramasamy, co-founder of PipeCandy said. “Being a product in the Assembly platform will allow us to solidify our position as the largest, cleanest and most accurate dataset on ecommerce and DTC companies, and scale our product and business insight offerings for brands and ecommerce operators.”
PipeCandy will continue to operate as an independent organisation. The company will look to develop more products […]
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