Bloomberg LP has acquired Second Measure Inc., a five-year-old startup with a market information platform utilized by buyers and tech giants to tell enterprise selections.
The transaction was introduced at present. Second Measure has raised greater than $25 million in funding from backers together with Y Combinator, Goldman Sachs, Bessemer Enterprise Companions and others.
Second Measure operates a cloud-based platform that aggregates billions of bank card transactions made by tens of millions of shoppers. The platform anonymizes the transactions to guard shoppers’ privateness, organizes them and makes the ultimate dataset obtainable by way of a web-based dashboard. Second Measure’s clients can sift via the knowledge to realize insights into the markets through which they function.
Tech corporations reminiscent of DoorDash Inc. use the startup’s platform to assist them discover enterprise alternatives. By analyzing Second Measure’s dataset, an organization can determine areas the place demand for its merchandise is particularly sturdy to prioritize geographic enlargement efforts. Bank card transaction statistics additionally present perception into what sorts of purchases clients are making, from whom and associated information factors.
Second Measure’s different goal market is Wall Road. Whereas the likes of DoorDash seek the advice of its information to higher perceive shopper exercise, banks and funding corporations use the startup’s platform to assist them determine firms which may make good investments. Second Measure’s spending information can present extra context in regards to the enterprise efficiency of huge market gamers, whether or not they’re faring properly relative to rivals and the way gross sales change quarter-over-quarter.
Second Measure’s options for the funding group had been possible a key motivation behind Bloomberg’s choice to make the acquisition. Bloomberg offers the Bloomberg Terminal, which supplies monetary professionals entry to market information, information and different data they will use to tell funding selections. Bloomberg stated within the acquisition announcement at present that the patron spending metrics aggregated by Second Measure complement its “firm fundamentals and market information.”
“Our purchasers are more and more incorporating non-traditional information of their funding and enterprise technique selections,” elaborated Bloomberg Chief Know-how Officer Shawn Edwards. “We’re dedicated to serving to them extract high-value insights from these datasets sooner, via revolutionary applied sciences and complicated fashions like these developed by Second Measure.”
The monetary phrases of the acquisition weren’t disclosed.
Photograph of Second Measure founders Mike Babineau and Lillian Chou: Second Measure
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