Think3 said June 20 that it acquired MyAlerts Inc. Financial terms weren’t announced. MyAlerts, of Minneapolis, is an e-commerce marketing platform used by retail and consumer sites to capture purchase intent.
AUSTIN, Texas, June 20, 2018 /CNW/ — Think3, has acquired MyAlerts Inc., an e-commerce marketing platform used by top retail and consumer sites to capture purchase intent, driving consumers back to sites at a rate of 5-10 times and converting browsers into buyers.
Top sites, including Home Depot, JCPenney, Target and Cars.com, utilize MyAlerts to offer consumers automated alerts — from back in stock to registry and price alerts. Real-time, personalized alerts allow customers to tune into and increase engagement with sites, brands, categories and products and deliver greater relevance to customers.
MyAlerts augments campaign marketing, focused on what retailers want to sell, with customer designed marketing, focused on what customers want to buy. The platform and alert options use change events on a site, such as price drops, product availability or new products added, and turns them into micro-marketing events.
This helps retailers solve top customer experience issues and delivers 100 percent relevant alerts to their site visitors, taking email marketing and challenges like cart abandonment to the next level. MyAlerts’ results demonstrate the impact with:
• 11 million users who have active alerts
• $1.4 billion in future purchase intent tracked
• 80% average open rates
• $7.23 average revenue generated per alert
Now as part of the Think3 portfolio, MyAlerts and Think3 will continue to invest in customer success while ensuring customers continue to receive the highest level of customer service, product delivery and technical support. MyAlerts will also become a key component of the Think3 Prime program — enabling customers to utilize software across more than 70 other portfolio companies at no additional charge.
Andy Tryba, Think3 founder, with more than 20 years of experience managing global companies for growth and profitability, is the new CEO of MyAlerts.
“This is an exciting time in e-commerce, marketing and personalization. Trailblazers are propelling businesses by tapping into the power of technology and AI-driven personalization,” said Tryba. “MyAlerts sets itself apart as an innovator in a world where multitasking mobile shoppers and online consumer options expand daily. Personalized experiences are the present and future of the retail and consumer markets. We are delighted to welcome MyAlerts to the Think3 portfolio.”
About Think3 Think3 is a $1 billion private equity fund designed to enable SaaS founders to take more shots on goal. As a completely new kind of fund backed by proven experience in successful company acquisitions, we believe entrepreneurs should think of their careers as a portfolio and sell their companies earlier to move on to their next high-growth venture. We purchase SaaS companies and enable a unique transition process that empowers founders and their teams to then launch their next startup. For more information, please visit www.think3.com.
About MyAlerts: MyAlerts helps sites to drive 5-10 times higher customer engagement by allowing customers to personalize the alerts and updates they want on any site. This puts the customer at the center of any sites marketing relationship by allowing their customers to identify the brands, categories and products they intend to buy in the future (and why), helping to reduce customer acquisition costs and dramatically increase revisitation and revenue per customer. MyAlerts also provides their sites with a Demand Dashboard that gives powerful customer intelligence regarding where they have unmet demand on out-of-stock products and helps reduce margin erosion on products at the end of life by pulling forward all historical interest in products on their sites. For more information, please visit www.myalerts.com.