Acquisition will Accelerate Adoption of Big Data Discovery 

1010data, Inc. (“1010data”), provider of the only Big Data Discovery and data sharing platform that combines cloud-based analytics with access to disruptive datasets on a single platform, and Advance/Newhouse (an affiliate of Advance Publications, “Advance”), a privately held global and diversified  media group, jointly announced that Advance has acquired 1010data for $500 million.

Through this transaction, Advance will provide 1010data with the capital required to accelerate the market adoption of its platform, whose disruptive value proposition has been challenging the traditional business intelligence and data warehouse vendors. 1010data management will continue to lead the company, retaining a stake in the new entity. New capital will be used primarily to invest in the platform, scale sales and marketing operations, expand product offerings and grow into new industries and geographies, while maintaining the high level of support that customers have come to rely upon.

Over the past several years, 1010data has continued to increase its customer base, grow its best-in-class engineering and data science team, expand its technology product offering, and unveil new and unique datasets on its platform. More than 750 leading banking, retailing, manufacturing, gaming and telecommunication companies leverage 1010data to manage and analyze more than 21 trillion rows of data.

Norwest Venture Partners made a $35 million private equity investment in 1010data in 2010, which was the first and only investment in the founder-owned business. 

About 1010data 
1010data provides:

  • Big Data Discovery and data sharing that enable organizations to analyze, share, and monetize Big Data on a single, scalable platform.
  • An integrated Data Cloud, encompassing public, third-party and unique, disruptive data sets, that enables better decision-making through data enrichment and sharing.
  • A complete platform for distributing Big Data applications developed by third-parties.sandy-joel-greg-low-res-color-750xx3113-1751-0-162
 Picture: 1010data president Greg Munves, CEO Sandy Steier, chairman and CTO Joel Kaplan.

About: Advance Publications, Inc. is a media company owned by the descendants of S.I. Newhouse Sr.; Donald Newhouse and S.I. Newhouse, Jr. It is named after the Staten Island Advance, the first newspaper owned by the Newhouse family, and where the mailing address for Advance Publications is listed on paper (although Advance does not have an official headquarters). As of October 2014, it was ranked as the 44th largest private company in the United States according to Forbes.

Source:  1010data.com