Social media analytics platform NetBase is to merge with Quid, a leader in AI driven text analytics, to create NetBase Quid. The combined consumer and market intelligence platform will deliver contextual insights that reveal business trends from across all forms of structured and unstructured data.
NetBase Quid offers access to billions of indexed resources — from social media posts, consumer reviews, product reviews, news articles to business filings, to patent applications, and forums – which can be aggregated, analyzed, and visualized in order to discover consumer and market insights.
The enhanced platform aims to deliver clear, real-time and actionable results so that customers can distinguish between critical and non-essential business issues, ultimately empowering them to make smarter, data driven decisions quickly and efficiently.
Peter Caswell, Chairman and CEO of NetBase, said of the merger: “Like us, Quid has a client-first focus, is deeply connected to technology, driven by purpose and acts as a leader in the evolving consumer and market data analytics landscape. We have always been impressed with Quid’s technology and leadership. We are confident this merger will help our customers accelerate the growth of their businesses, while enabling them to benefit from the highly personalized service experience they have always enjoyed.”
Bob Goodson, CEO of Quid, commented: “Joining forces just makes sense. We see a great opportunity to transform the landscape of business intelligence using unstructured data. This merger gives our clients the best possible tools and resources to make them as fully informed as possible while making complex business decisions.”
Following the completion of the merger, Caswell will lead NetBase Quid as Chairman and CEO, with Goodson assuming the role of President. NetBase Quid’s leadership team will include senior executives from both NetBase and Quid, reflecting both companies’ commitment to their customers.
“Merging Quid and NetBase will help enable the next wave of innovative customer analytics,” said Pamela Mittoo, Manager of Technical Consumer Research at Coca-Cola. “This new company will provide the ultimate resource in understanding consumer context.”
Brian Mossop, Senior Vice President, FleishmanHillard, said: “Both NetBase and Quid enable the strategic work we do at FleishmanHillard. Combining NetBase’s and Quid’s contextual AI and breadth of data sources will give us unparalleled visibility into any landscape analysis, including our clients’ brand coverage, the industries they serve, and new areas of opportunity for our clients and their customers. This will definitely be a game changer for our business and our clients.”
Don Butler, Managing Director at Thomvest Ventures, the leading VC funding NetBase, said: “This kind of platform is sure to attract a slew of new, innovative customers. New, growing businesses have an abundance of unstructured data they don’t know what to do with, and NetBase Quid is addressing the need of the evolving landscape.”
For more information on NetBase Quid, please visit here.
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