PriceSpider acquires portfolio company Hatch
Original press release
AMSTERDAM – Leading European omnichannel commerce solutions scale-up Hatch, which helps brands drive sales by making brands’ touchpoints “shoppable”, has today announced it has been acquired by leading US brand commerce enablement tech company PriceSpider. Together, Hatch and PriceSpider with a presence on all continents will provide the most comprehensive commerce enablement solutions and digital shelf analytics, helping brands better understand consumer buying patterns to optimize touchpoints globally. Hatch, which is headquartered in Amsterdam and has over 100 employees in offices in EMEA, APAC and CIS regions, enables consumers to connect with sales channels of the world’s biggest brands and purchase products when and where is best for them.
Hatch has grown from a start-up to a mature scale-up in under 10 years generating an ARR of >$10 Million and offers its clients omnichannel SaaS solutions based on Where to Buy technology. Hatch connects brands directly with retailers, empowering a oneclick shop from the brands’ website, that can direct buyers to a wide selection of over 2000 retailers worldwide. As an omnichannel commerce solution, Hatch enables consumers to purchase a brand’s product from any point: social media, the website, phone, tablet, or computer. Currently operating in over 80 countries around the world, Hatch’s service is compatible with almost any product on any market. They offer live data insights on product availability, ensuring consumers of an accurate price and in-stock information. In 2021 over 100 million consumers passed through the Hatch platform representing close to a staggering half a billion dollars worth of purchases.
With the rapid growth of ecommerce, brands need access to data that will help them drive more sales online. Through this latest acquisition, PriceSpider is now positioned to serve global brands within a single, expansive global retailer network and with an extensive best-in-class product suite. Hatch believes its omnichannel feed, coupled with PriceSpider’s proprietary crawl technology will give both sides the ability to enhance customer journeys and optimize digital shelf worldwide.
Hatch’s Where-to-Buy technology and vast global retailer network have been the hallmark of its success. By creating a clear path to purchase across all channels, combining digital and physical stores product feeds, Hatch has successfully tapped into an otherwise elusive local retail partner network ranging from Europe to Asia and London to Taipei. Combined with PriceSpider’s existing footprint, this acquisition creates the most expansive and efficient way to capture commerce data worldwide including a global footprint to service clients and retailers within their local timezone and language.
The US eCommerce Forecast 2021 Report from eMarketer reported that more than $933 billion will be spent on ecommerce in 2021 in the US alone. Additionally, the 2021 Retail Industry Outlook Report from Deloitte stated that supply chain resiliency requires end-to-end integration to help retailers anticipate and meet consumer demands and disruptions in unprecedented times. PriceSpider’s acquisition of Hatch marks a great leap forward in the success and resilience of eCommerce by further improving the buyer’s journey and cementing future success.
PriceSpider’s Brand Commerce Platform — including Shoppable where-to-buy solutions, Digital Shelf Analytics and Minimum Advertised Price (MAP) technologies — protects brand integrity online by delivering deeper insights into how consumers shop and choose brands. PriceSpider has been listed among the Inc. 5000 fastest-growing private American companies for the past 3 years. With this acquisition, PriceSpider and Hatch will serve more than 2,000 of the world’s most renowned brands across the globe.
Commenting on the acquisition, Joris Kroese, Founder and CEO of Hatch, said: “As with PriceSpider, Hatch has always been on a mission to make the world shoppable by connecting brands to consumers and consumers to their preferred retailers. By combining Hatch and PriceSpider’s offerings, I am overjoyed at the prospect of where we will go together following this acquisition.”
Speaking about the deal, Scott Hoch, partner at Frontier Growth (of which Price Spider is a portfolio company) said: “Over the past two and a half years, PriceSpider has acquired ORIS Intelligence, adding a best-in-class MAP solution to PriceSpider’s product portfolio, as well as CommerceConnector, which further expanded global retailer partnerships across Europe and Australasia. By bringing Hatch into the PriceSpider family, PriceSpider is poised for significant growth in eCommerce to outpace the technological demands global consumer brands need.”