Two Chicago-based companies that help retail clients optimize pricing strategy are joining forces. The acquisition underscores Big Data’s role in retail.
Market Track LLC, which employs more than 400 people and serves 500 retail and manufacturing clients, has agreed to acquire Dynamite Data LLC, a 20-person company that scours the Web to provide retail clients with real-time pricing updates from their competitors.
Market Track, which tracks Sunday circular advertisements, some 230 retail websites and retailers’ promotional emails in order to help clients monitor competitive advertising and pricing activity, will retain Dynamite’s leadership team and invest in Dynamite’s product and personnel. Dynamite CEO Diana Schulz will become president of Market Track’s new e-commerce division, and Dynamite co-founder Kristopher Kubicki will serve as its chief technology officer. Terms of the deal were not disclosed.
About: Dynamite Data was founded in 2007 by Mr. Kubicki and Larry Barber. Mr. Kubicki, 30, created Dynamite’s technology as part of his computer science thesis at the University of Illinois. The idea arose from his experience working as a tech blogger while in school, when he published guides on computer product prices and noted the frequent fluctuations. Messrs. Kubicki and Barber developed an algorithm and big data extraction techniques that let them aggregate 30 million pieces of online pricing, inventory and review information from more than 1 billion Web pages and 3,000 online merchants every day.
Source: Chicagobusiness.com
