Prisync Acquired Spotlite: Financial Details Undisclosed

Our company, Prisync has just acquired its Australia-based competitor Spotlite.

This event marks Prisync’s first-ever acquisition in its lifetime and it does not feel like it’ll be the last (more on this below). Therefore, we believe that it’s worth to share our musings on this major update and share what’s next for Prisync.

Scaling glocally!

Firstly, Prisync is an awesome group of people, it’s a lovely team.

This team works pretty hard on delivering our top-notch competitive pricing intelligence software to 100s of e-commerce companies and suppliers from more than 50 countries as of Q1 2019.

What keeps this team and our company together since Prisync’s inception back in 2013 is our Mission. We’re building a company/brand that will be the first choice that comes into the mind of an e-commerce/retail professional when she/he needs help with her/his company’s pricing operations, say competitive intelligence, AI-driven pricing optimization or MAP Monitoring. Something like what Salesforce is for CRM, as we put it simply, internally.

As we are tapping into a giant problem/need in the massive global e-commerce market with this mission, obviously we’re competing against (or say, competing with) other companies, with similarly lovely ambitious teams in place. (We’ve met with quite a few of them in-person or online, and can really tell this by heart.)

As we’ve been growing Prisync in the last few years, we encountered a major group of competitors with particular focus on specific regions or countries and strikingly noticed and justified one of the Prisync’s technological strengths: Our pricing intelligence & optimization technology is designed and developed in such a way that we don’t have any language/currency/country barriers that will block us from serving a particular country on earth. – We’re still not quite knowledgable about the North Korean e-commerce space though. 🙂

This technological superiority helped us to scale our offerings within more than 50 countries today. However, for many of our competitors, it’s not the same case and they technically needed to scale step-wise, country by country and this gave them relatively deeper penetrations in their focus markets but also quite a weak market presence elsewhere.

With the mission of becoming the world’s most widely used pricing intelligence software and the vision it generates, we embraced the idea that these competitors of ours can actually become partners of ours at some point, as we can commit together into our grand mission.

Prisync’s Spotlite acquisition fits into this idea quite nicely, as Spotlite was mainly active in the Australian e-commerce market, where it generated a nice image around its brand. With this acquisition, we’ll preserve that image within Prisync and become the Australian market leader, which is directly in line with our global leadership ambitions. Needless to say, we’ll be pursuing similar collaboration opportunities within the global market as we scale.

If this rings any bells for any of you competitor readers out there, feel free to ping us anytime! 🙂

“Go big or go home!”

We’ll scale & grow. (or say, we’ll continue to scale & grow.)

Because, well, firstly we believe that we can do that and secondly, we built and are still building a team that deserves to put its mark and impact into the global market.

Therefore, we made this bold move of acquisition to also hold ourselves accountable in such a way that we’re not just going to be one of the vendors out there in our space, but we’ll really be the top one and well, till the day we really can say that arrives, we won’t feel settled.

Just as the saying goes, we’ll go big or we’ll go home and eventually Prisync is our home after all.

So, one way or the other, we’ll go big!

Discovering & building what’s best in our domain

Pricing intelligence and dynamic pricing optimization are both an old and a new technological domain from where you look at it.

We rather consider it as very new because since we started building Prisync’s technology we always had the privilege of building innovative & unrivaled pieces of software at every single layer of our value proposition (from price scraping to reporting or from data imports to pricing optimization).

We’ll continue innovating in our domain and surely such acquisitions will help us to combine other innovations that takes place at other parts of the world which will then pile up into a top-notch product that really satisfies e-commerce companies of all sizes from all around the world.

We can’t complain where we stand today in this journey.

What’s next?

Specifically speaking, addressing all the Spotlite users out there, we’ll do our bests to make you feel at home. 🙂 And we already started welcoming a batch of customers by smoothly handling their technical & business transition into Prisync. So, it’s a check!

As mentioned above, we’ll always be watching out for similar acquisition/collaboration opportunities as we now believe that such acquisitions can actually be a smart growth strategy for companies in crowded SaaS verticals addressing giant markets, so for Prisync too.

As for our product roadmap, we’ll continue to launch new technological partnerships alongside the existing ones we have with Magento & Shopify.

We’ll scale our pricing retrieval engine to continue catering to all sizes of e-commerce companies regardless of their country or market vertical and we’ll further improve our dynamic pricing optimisation engine (which already boosts sales volumes and profit margins for 100s of e-commerce SMBs and enterprises, by leveling the playing field, so, Amazon, watch out!).

However, above all, we’ll continue focusing on what has mattered most for us to date. We’ll continue building a world class team over at Prisync.

Here’s your Call-to-Action!

Well, let me end this piece with the marketing-soul in me stealing the mic. 🙂

Please feel free to check out Prisync.com and sign up for our 14-day free trial to see what Prisync’s technology looks like and what it might bring into your company. It’d be great for our team to hear back your thoughts and feedback on what we’re building here at Prisync.