CULVER CITY, Calif., Apr 23, 2012 (BUSINESS WIRE) —
Magento,
a leading eCommerce platform provider with over 110,000 merchants
worldwide and a part of X.commerce,
an eBay Inc. company, today announced a strategic partnership with 500friends,
Inc., the premier social loyalty solution for e-commerce retailers.
The joint venture gives Magento merchants access to 500friends’ market
leading white-label social loyalty platform LoyaltyPlus(TM).
The award winning LoyaltyPlus(TM) platform provides retailers with a
comprehensive white label social loyalty solution including
comprehensive gamification capabilities and the sophisticated dashboard
and analytics needed to accurately measure the impact of the loyalty
program against key business metrics.
The Magento platform, an open-source platform that offers merchants
complete flexibility and control over the presentation, content and
functionality of their online store, is built to allow for easy
integration of desired solutions like LoyaltyPlus(TM). Implementing
LoyaltyPlus(TM) will allow Magento merchants to incent, measure and reward
the customer behaviors that matter most to their brand, such as writing
reviews, referring friends, sharing products on Facebook or Twitter and
frequent purchasing. The insight gained on such influential behaviors
across the brand’s social graph is critical in turning shoppers into
loyal customers and loyal customers into brand advocates. Designed and
built by a team of e-commerce experts, LoyaltyPlus(TM) is proven to
significantly increase key business metrics including average order
value, purchase frequency, cost of acquisition and lifetime value.
“Through the Industry Partner program Magento provides valuable
technology solutions that extend the functionality of a merchant’s
store. The LoyaltyPlus(TM) solution is seeing rapid adoption across the
retail segment and welcoming 500friends as a Magento Platinum Partner
reaffirms our commitment to giving our merchants access to the best
solutions available in the marketplace,” said Jeff King, Sr. Director,
Strategy and Partner Development, X.commerce.
“Magento and 500friends share a fundamental commitment to providing all
retailers, regardless of size, with the tools they need to create and
manage world-class e-commerce sites. Becoming a Magento Platinum Partner
was an obvious continuation of our effort to deliver on that promise,”
said Justin Yoshimura, CEO of 500friends.
About Magento
The Magento e-commerce platform serves more than 110,000 merchants
worldwide and is supported by a global ecosystem of solution partners
and third-party developers. Magento is a feature-rich, open-source,
enterprise-class platform that offers merchants a high degree of
flexibility and control over the user experience, catalog, content and
functionality of their online store. In August 2011, Magento was
acquired by eBay Inc., and is now part of the X.commerce, Inc. (
www.x.com ).
For more information, please visit
www.magentocommerce.com .
About X.commerce
X.commerce brings
together the technology assets and developer communities of eBay
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-1.56%
, PayPal and Magento to support eBay Inc.’s mission of
enabling commerce. Through our ecosystem of developers, partners and
tools, merchants now have access to open commerce technology to scale
and grow their businesses.
About 500friends
500friends is pioneering the next generation of loyalty marketing with
its award-winning white-label social loyalty software-as-a-service
platform, LoyaltyPlus(TM). Flexible, scalable, and lightweight, LoyaltyPlus
helps retailers large and small to kickstart either new loyalty programs
or provide social wraps around existing programs and help retailers and
brands move customers up the loyalty curve to advocates. A 2010
Y-Combinator graduate, the company brings together more than 60 years of
e-commerce expertise and the team has supported such brands such as
Nike, American Express, Sears, Shutterfly, TicketMaster, Orbitz,
Williams-Sonoma and Continental Airlines. Based in San Francisco, the
company is funded by Crosslink Capital, Intel Capital, Y-Combinator, and
well-known individual investors such as Jeff Fluhr, Steve Newcomb, Naval
Ravikant, and Chris Yeh. For more information, please visit
www.500friends.com ,
or follow us on Twitter @500friends.
SOURCE: X.commerce
Edelman
Veselina Buie, 941-481-2774
Veselina.Buie@edelman.com
Copyright Business Wire 2012
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