Ecommerce companies Branded Response and Push Interactive have merged to form ConversionPoint Technologies (CPT) Inc., a firm that will sell directly to consumers while offering its technology to
other companies. Terms were not disclosed
Branded Response, based in Irvine, California, sells health and beauty products by subscription. Push Interactive, located in Minneapolis, provides an
ecommerce platform that enables the sending of email and use of many other channels.
“Part of the marketing program is to have email capabilities,” said Ron Both,
investor relations for CPT. “It could be banner ads, email -- whatever they think is going to be the most effective to market the packaged goods products and diet products they
select.”
The combination of the firms’ technologies will create sales funnels that lead to higher customer conversion and retention rates, the company claimed.
CPT is
offering its capabilities to other organizations on a SaaS-based subscription basis. This will generate an additional revenue stream, although CPT is the largest user of the platform, CPT added.
Push Interactive’s SaaS-based ecommerce platform has been built over “seven years of selling their own products online,” the company said.
Peter Nguyen, the chairman of
CPT, is a co-founder of Branded Response. He is also the co-founder of Ad Exchange Group. Robert Tallack, the CEO of CPT, has 15 years of experience in the healthcare industry.
Serving as COO
of CPT is Stephen Blazick, a co-founder of Branded Response. Haig Newton, a co-founder of Push Technologies, has been named chief technology officer of the new firm.
On a combined pro
forma basis, CPT generated over $44 million in revenue in the 12-month period ended May 31, 2017. First-quarter revenue rose by 18% to $11.1 million. The company expects to hit $60 million this
year.
The firm’s platform is now generating more than 5,500 ecommerce transactions per day, compared to 2,500 at the end of 2016, CPT said.
CPT offers these
capabilities:
- DriveBy—Amedia optimization platform that employs machine learning to optimize ad purchases and lower customer acquisition costs.
- Comiseo — A payment processing and customer data management system.
- BlueDrone — A post-purchase customer management technology that facilitates product delivery
and automates re-marketing.