SAN FRANCISCO, Jan. 28, 2020 /PRNewswire/ -- NetBase, the industry leader in social media analytics, announced today it will merge with Quid, a leader in AI driven text analytics. The combined company is the next generation consumer and market intelligence platform. The platform will deliver contextual insights that reveal business trends from across all forms of structured and unstructured data. The two companies will join forces under their new collective name, NetBase Quid.
In today's age of information overload, NetBase Quid will deliver businesses an unprecedented solution that is faster, more accurate and actionable and with access to billions of indexed resources — from social media posts, consumer reviews, product reviews, news articles to business filings, to patent applications, and forums - which can be aggregated, analyzed, and visualized in order to discover consumer and market insights.
The enhanced platform will deliver clear, real-time and actionable results so that customers can distinguish between critical and non-essential business issues, ultimately empowering them to make smarter, data driven decisions quickly and efficiently.
"Like us, Quid has a client-first focus, is deeply connected to technology, driven by purpose and acts as a leader in the evolving consumer and market data analytics landscape," said Peter Caswell, Chairman & CEO of NetBase. We have always been impressed with Quid's technology and leadership. We are confident this merger will help our customers accelerate the growth of their businesses, while enabling them to benefit from the highly personalized service experience they have always enjoyed."
"Joining forces just makes sense," said Bob Goodson, CEO of Quid. "We see a great opportunity to transform the landscape of business intelligence using unstructured data. This merger gives our clients the best possible tools and resources to make them as fully informed as possible while making complex business decisions."
Following the completion of the merger, Caswell will lead NetBase Quid as Chairman & CEO. Quid CEO Bob Goodson will be assuming the role of President. NetBase Quid's leadership team will include senior executives from both NetBase and Quid, reflecting both companies' commitment to their customers.
"Merging Quid and NetBase will help enable the next wave of innovative customer analytics," added Pamela Mittoo, Manager of Technical Consumer Research at Coca-Cola. "This new company will provide the ultimate resource in understanding consumer context."
"Both NetBase and Quid enable the strategic work we do at FleishmanHillard. Combining NetBase's and Quid's contextual AI and breadth of data sources will give us unparalleled visibility into any landscape analysis, including our clients' brand coverage, the industries they serve, and new areas of opportunity for our clients and their customers" said, Brian Mossop, Senior Vice President, FleishmanHillard. "This will definitely be a game changer for our business and our clients."
"This kind of platform is sure to attract a slew of new, innovative customers," said Don Butler, Managing Director at Thomvest Ventures, the leading VC funding NetBase. "New, growing businesses have an abundance of unstructured data they don't know what to do with, and NetBase Quid is addressing the need of the evolving landscape."
For more information on NetBase Quid, please visit here.
NetBase is the award-winning social analytics platform that global companies use to run brands, build businesses, and connect with consumers every second. Its platform processes millions of social media posts daily for actionable business insights for marketing, research, customer service, sales, PR, and product innovation. NetBase is a trusted partner to American Airlines, Arby's, Coca-Cola, Ogilvy, T-Mobile, United Airlines, and YUM! Brands. Learn more at netbase.com.
Quid is an artificial intelligence company in San Francisco founded in 2010 and enables organizations to understand the story behind their customers, competitors, markets, and brand. The platform utilizes artificial intelligence and natural language processing to illuminate key information and drive insights in areas like competitive intelligence, market landscapes, and trend analysis. Quid is a trusted partner to Walmart, Hyundai, Wunderman Thompson, Golin, Microsoft, BCG and The New York Times. Learn more at quid.com.