Great start for Speqta's AI engine for Google Shopping
MARCH 30, 2020
Press release
About 20 major e-retailers have now joined Speqta's newly launched AI engine, Shopello BidBrain™ – an important component in Speqta's new business strategy.
Shopello BidBrain™, a service that allows e-retailers to pay only for clicks leading to a purchase, has become extra relevant, now when e-commerce is in focus even more. In a short time, since its launch in January 2020, about 20 major e-commerce stores in Europe have chosen to join Shopello BidBrain™.
Fredrik Lindros, Speqta's CEO, believes that this is solid evidence that the company's new service plays an important role, especially when the market in general is going through turbulent times: ”It is a fact that e-commerce overall is growing, but in this unusual situation, some areas are growing particularly fast. As the market changes, it is important to be on your toes and deal with the complexity of taking control of traffic. Our AI service assesses hundreds of parameters simultaneously for each bid and never goes to sleep. That means that the e-retailer never risks placing a wrongful bid, even in turbulent times, and will only pay for actual sales made.”
Today, Shopello has more than 3 000 affiliated e-commerce stores spread across 17 countries in Europe.
In connection with the quarterly report, at the end of February this year, Speqta's new strategy was presented, and two growth areas were identified: Comparison sites (Content & Comparison) and Shopello (AdTech). Going forward, Shopello's strategy includes focusing primarily on larger e-commerce stores, compared to before, when trying to acquire a substantial number instead. The newly added stores to Shopello BidBrain™ are, in fact, larger online stores with an average turnover of more than SEK 1 billion.
”With Shopello BidBrain™, Speqta has developed a unique service that is also greatly asked for, by major e-retailers. Since its launch, in early January this year, we have seen a steadily growing interest, and we receive positive feedback regularly from our customers. Shopello BidBrain™ gives us good opportunities to move forward our position in Europe, Fredrik Lindros concludes”. Today, Shopello is a premium CSS partner with Google. Read about this on https://shopello.net/
For more information, please contact:
Fredrik Lindros
CEO Speqta AB (plc)
fredrik.lindros@speqta.com
+46 723 10 66 66
About Shopello
Shopello is a marketing platform that helps online stores and media agencies to optimize advertising and sales through AI-based cutting-edge technology.
About Speqta
Speqta offers the best performance based lead generating platforms using data and AI and to grow organically as well as through acquisitions in new and existing markets. Speqta has two business areas Speqta AdTech (Shopello) and Speqta Content & Comparison. The company is listed on Nasdaq First North Premier Growth Market in Stockholm under the ticker “speqt”. The company’s Certified adviser is Västra Hamnen Corporate Finance AB, telephone number: +46 40 20 02 50, e-mail: ca@vhcorp.se
