Nextag Socializes Online Shopping with Thingbuzz Acquisition
Acquisition Enriches Consumer Shopping Experience with Real-time Social Engagement Shopping Tips and Product Reviews
SAN MATEO, Calif., Oct. 18, 2011 /PRNewswire/ -- Nextag®, (Nextag.com), a leading shopping website, today announced the acquisition of Thingbuzz (Thingbuzz.com), a real-time social shopping platform that tracks the conversation about products in the social media sphere. Through this acquisition, Nextag will socialize the online shopping experience for its customers, bringing them personalized, timely new product information and promotions at point-of-sale.
"Our acquisition of Thingbuzz is the first step in delivering our customers a fully integrated and rewarding social shopping experience," said Jeffrey G. Katz, chief executive officer of Nextag. "We're so pleased to welcome the Thingbuzz team to Nextag and provide our shoppers with even more personalized search results for unlocking the best deals on the Web."
With Thingbuzz, Nextag consumers can now see what is being said about the products they like on Facebook and Twitter and receive real-time product information and relevant promotions from Nextag's broad merchant network. From apparel and home furnishings to consumer electronics and consumable items, shoppers tap into their own online communities to research and make informed purchasing decisions without leaving the site.
This acquisition marks Nextag's fourth in just over one year. In June 2011, Nextag acquired Germany's guenstiger.de GmbH, the leading provider of online comparison shopping services in Europe's largest market. Before that, the company acquired Wize, Inc., a product review and recommendations site, and NextCoupons.com, a coupon site. These acquisitions are part of Nextag's aggressive growth strategy, which also includes strategic hiring, technology development and global expansion.
"The opportunity to join Nextag and bring Thingbuzz's technology to the 40 million consumers that visit Nextag for shopping each month is tremendously exciting," said K.B. Teo, co-founder of Thingbuzz. "Thingbuzz's technology platform will add a powerful social tool that will enhance the online experience for Nextag's shoppers."
Financial terms of the deal were not disclosed.
Nextag® is shopping. Offering the most comprehensive product catalog online, Nextag delivers the tools and technology that can help shoppers make smarter purchasing decisions. With nearly a half billion people visiting its sites each year, Nextag offers an unparalleled shopping experience whether searching for shoes, appliances, jewelry or cameras, cosmetics and travel destinations. Since 1999 consumers continue to choose Nextag for shopping. Headquartered in San Mateo, California, Nextag has offices in Chicago, London, Tokyo, Hamburg and Gurgaon, India.
Thingbuzz is a social media technology platform focused on organizing and sharing real-time social media about consumer products and websites. Thingbuzz's technology allows shoppers to see relevant and real-time product information, discover trends and find the hottest things on the social web. Thingbuzz is a privately held company based in the Bay Area, California and founded by Choon-Hong Peck, K.B. Teo and Seggy Umboh.
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