I am excited to share the news of our acquisition of Magnetic’s website and email recommendations business, formerly known as MyBuys. This acquisition brings the benefits of Evergage’s next-generation personalization platform to a large number of retailers who’ve now become Evergage clients.
I have kept my eye on MyBuys for many years. The company, which was founded in 2001, became one of the foremost product recommendation engines by the time Evergage was founded in 2010. They established relationships with hundreds of leading retail e-commerce companies, delivering product recommendations on websites and via email to millions of shoppers.
Personalized experiences and recommendations are key to effective and successful customer experiences and e-commerce optimization. Retailers have known this and executed on this premise for a long time. MyBuys recognized this demand early on and built an excellent business serving these clients. The company was sold to Magnetic in 2015 but wasn’t able to maintain its focus on personalization technology innovation. I’m excited now for the opportunity to “rekindle the fire” and bring their clients the advanced, comprehensive personalization capabilities of the Evergage platform that include true 1:1, testable product recommendations and a whole lot more.
With the acquisition, we are not only bringing over the MyBuys customer base but also the employees supporting those products, including engineering, customer success and technical support professionals. I’m truly excited to welcome these new team members and our new customers – all of whom share our belief in the critical importance of personalization – and look forward to collaborating and innovating with them going forward.
Employing a carefully coordinated, high-touch process, we will migrate each MyBuys customer onto the Evergage platform, which will deliver all the current capabilities of the MyBuys merchandising product set (website recommendations, email recommendations, triggered emails, and email alerts to shoppers) and much more, such as in-depth behavioral tracking and affinity modeling; a unified profile on every visitor and customer; real-time segmentation and targeting; A/B and multivariate testing; and an intuitive self-service interface for campaign setup, management, visual editing, reporting and attribution analysis.
Evergage will provide total continuity for MyBuys customers and a seamless transition to our award-winning platform.
Read more about this exciting news in our press release announcing the acquisition.