New York City-based Olapic has acquired San Mateo, California-based Piqora along with assets that provide the ability to measure, analyze, and report on visual content performance; technology that allows consumers to make purchases on Instagram, and schedule content on Instagram and Pinterest. The terms of the deal were not disclosed.
Piqora's strength resides in technology that supports Pinterest, which many call an image search engine that provides visual inspiration for campaigns. Olapic already had technology to support Instagram.
"For visual content most discovery happens on social network through images," Pau Sabria, co-founder and CEO at Olapic, told Search Marketing Daily. "The idea is to push the content that people interact with most and help marketers understand which piece drives value."
Research shows that images typically increase interaction rates for search engine advertising, such as Google product listing ads on its Shopping platform, but a study released earlier this month from Quintly reveals that Instagram's interaction rate dropped and follower rates slowed in 2015, which could become one reason why Olapic wanted technology and a stronger platform to support advertisers and marketers interested in running campaigns in Pinterest.
One might chalk-up the acquisition to self-preservation. Indeed, Sabria said Olapic acquired Piqora for the technology supporting services in Pinterest.
Not all employees will join the combined company, which continues to work through the process of who will stay and who will go. Olapic has about 170 employees.
Piqora cofounders Sharad Verma will remain in an advisory position, and Naveen Akunuri will remain with the newly combined company.