|By Business Wire||
|April 2, 2014 09:09 AM EDT||
Terapeak, the leading source for analyzing, understanding and predicting consumer and product behavior in ecommerce, is rapidly gaining momentum as online sellers recognize the value of actionable intelligence from big data and Terapeak’s groundbreaking solutions in this arena. As the first authorized analytics provider of eBay market data, Terapeak has maintained a strong growth trajectory as the ecommerce sector continues to transform retail.
eBay’s recent 2013 full year and fourth-quarter earnings report reflected strong revenue and growth, with earnings rising to $4.5 billion for the final quarter and 21% volume acceleration resulting in 14% revenue growth for the year as a whole. Given that backdrop, it’s not surprising that Terapeak has also enjoyed exceptional success in that time period since the company is an integral part of the success of many online entrepreneurs, ecommerce merchants and Fortune 500 firms through its unique marketplace intelligence solutions.
In the last quarter of 2013, Terapeak released a free version of its MySales multichannel ecommerce intelligence tool. MySales allows merchants who sell on eBay, Amazon and Magento to view all of their sales data in one dashboard and identify trends. MySales also helps Terapeak customers by providing visibility into their own traffic data, allowing them to see how many times a prospect has viewed their items. Although MySales was released as a free product only in the last 3 months, it now boasts more than 100,000 accounts created.
Close to 3 million merchants are now using Terapeak's Analytics through one of its ecommerce products and this number continues to grow rapidly. "Ultimately, Terapeak users are more successful than non-users because they have marketplace visibility and are able to make informed decisions.” says Kevin North, CEO of Terapeak.
According to Glen Scott, a Terapeak customer and owner of Petsporium on eBay, "The more research I did, the more I was convinced that by using Terapeak, I could create a whole new business. That was six months ago. Thanks to Terapeak, I had a record number of sales last month and am on track for another record this month."
Another eBay merchant and Terapeak customer, David Rapport of Ekusparts on eBay says, "I would need to add another full-time employee to replace the contribution that Terapeak makes to my business. Determining price, availability of product and demand without eBay research would take someone hours every day."
In calendar year 2013, Terapeak merchants sold more than $4.4 billion on eBay platforms worldwide. In fact, 31.5% of merchants who gross more than $1 million per month in eBay sales used Terapeak last year. Also according to Terapeak’s 2013 data, Terapeak merchants sold to an average of 7.6 million buyers each month and sold more than 120 million items. Its market share of eBay by gross sales of merchandise is 6.2%.
Terapeak’s innovative products and rapid growth have gained notice from industry leaders. Honors in 2013 included a #43 rank on Deloitte Technology’s prestigious Fast 50 list, SIIA Software’s CODiE Award for Best Big Data Solution and the #150 spot on PROFIT Magazine’s list of 500 high-growth companies. Terapeak was founded in Canada in 2004 and opened its Silicon Valley headquarters in 2012.
“Back in 1997, eBay changed retail as we know it,” observes Mr. North. “eBay democratized retail so that virtually anyone with a product, new or old, could sell online. Our role is to put the power of Big Data in the hands of online merchants, democratizing the knowledge of how products behave in ecommerce, on marketplaces such as eBay, Amazon and Yahoo! Japan.”
Terapeak analyzes more than 4.6 billion transactions per year and more than $70 billion in online consumer spending worldwide, providing 1.3 million merchants with applied market intelligence used to increase margins, grow revenue, generate consumer loyalty and ensure customer satisfaction. In the last 5 years, Terapeak's revenues have grown 440%. Find out more:
Visit Terapeak’s website: www.terapeak.com
Like Terapeak on Facebook: https://www.facebook.com/Terapeak
Follow Terapeak on Twitter: https://twitter.com/Terapeak
Terapeak is the leading source for analyzing, understanding and predicting consumer and product behavior in ecommerce. Terapeak analyzes more than 4.6 billion transactions per year and over $70 billion in online consumer spending to provide marketplace intelligence to clients ranging from entrepreneurs to Fortune 500 companies. Ecommerce merchants use Terapeak’s online analytics platform to evaluate pricing, sourcing opportunities, market trends, product behavior across regions and their competition. Terapeak provides marketplace analytics on eBay, Amazon.com and Yahoo! Japan, and merchants can view their own sales performance across multiple channels through Terapeak’s MySales product. Founded in 2004, Terapeak's U.S. headquarters are in Palo Alto, CA. Learn more at http://www.terapeak.com
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