SANTA CLARA, CA: NetBase Quid, an AI consumer market intelligence firm, has purchased Rival IQ, a software company focused on social media analytics, for an undisclosed sum.
The acquisition will expand NetBase Quid’s capabilities in providing consumer feedback, owned and earned social media analytics and competitive benchmarking.
NetBase Quid chairman and CEO Peter Caswell and Rival IQ CEO John Clark will retain their roles and titles.
Now called Rival IQ, a NetBase Quid company, the subsidiary will maintain its brand and continue to sell online subscriptions. Based in Seattle and operating independently for the foreseeable future, Rival IQ will provide automated insights about followers, fans and engagements such as views, likes, shares and mentions across social media channels.
Following the acquisition, Rival IQ is implementing product enhancements, cross-selling and lead sharing with its parent company, according to a NetBase Quid spokesperson.
Headquartered in Santa Clara, California, NetBase Quid provides consumer and market intelligence to support businesses. Using AI, it offers metrics about digital conversations, consumer responses including preferences, emotional intensity, unexpected changes in brand conversations and sentiment drivers. Its analytics encompass products, demographics, locations, trends and influencers.
Rival IQ clients include L’Oréal U.S.A., PR firm Ruder Finn, Save the Children and Team Canada. NetBase Quid’s customer roster includes Coca-Cola, T-Mobile, United Airlines, Yum Brands, Walmart, Hyundai, agency Wunderman Thompson, Microsoft, Boston Consulting Group and The New York Times. Ogilvy is a client of both companies.
In a statement, Caswell noted the importance of social listening in the market. He described the latest investment as bolstering the company’s consumer marketing intelligence capabilities.
NetBase Quid recently appointed Starbucks, infobip and Tableau Software alum Seujan Bertram as its COO. She is based in Seattle, where NetBase Quid and Rival IQ plan to open a joint office.
The Forrester New Wave AI-Enabled Consumer Intelligence Q3 2021 report named NetBase Quid a leader, highlighting its capabilities across social and customer-owned data sources.