With mobile commerce at the forefront of retailers’ minds, shopping platform Bigcommerce has just acquired Zing in a seven-figure cash and equity deal.
A US-based mobile retail tech startup, Zing has designed point-of-sale software which includes customer tracking, inventory management and reporting tools. Zing’s team, APIs and tech will become a part of Bigcommerce to improve its point-of-sale and mobile assets.
“The industry has reached an inflection point where retailers of all sizes want and expect to deliver next-gen experiences, such as in-store pickup and ship-from-store, without the complexity of switching between multiple back office tools,” Bigcommerce co-founder and CEO Eddie Machaalani said.
“The Zing team have done a remarkable job extending the Bigcommerce platform in a way that enables our merchants to do this and more, and I have full confidence their expertise and IP will further advance and expand our omnichannel strategy.”
It is Bigcommerce’s first acquisition. The terms of the deal have not been disclosed, although it is understood it was a mid seven figure deal made up of cash and company equity.
Bigcommerce estimates about 30% of the 85,000 retailers using its online platform also have a physical store. It hopes offering the Zing technology will enable these users to more easily manage its online and physical operations.
Since it was founded in 2009, the company has received $125 million in funding from a number of investors, including SoftBank Capital, American Express and Telstra Ventures.