New York based visual marketing platform Olapic has announced its acquisition of Piquora. Piqora’s main products, including its Instagram shopping product Tapshop, will be integrated and most likely rebranded into Olapic’s platform.
While the terms have not fully been disclosed, a spokesperson for Olapic has confirmed that Piquora co-founder Naveen Akunuri will remain as well as some of the engineering team. CEO Sharad Verma will serve in an advisory position through the transition period before he moves onto a new venture.
Piquora, which started as a company focused on providing analytics and marketing insights for Pinterest, expanded its suite of social marketing tools to include actionable data for visual based networks like Tumblr and Instagram. However, it’s core strength remained with Pinterest.
Piquora helped businesses gain actionable insights into user-generated content, allowing them to measure key engagement metrics and smartly target their ad campaigns. Brands could learn how their products were getting shared visually to discover what resonated with their target audience as well as to identify influencers who could make for powerful brand advocates.
Even though Olapic and Piquora offer similar services, the move should allow Olapic to strengthen its core offering, allowing brands the ability to unlock the power of user generated content to create engaging and authentic brand experiences across the visual social web.
Olapic’s initial focus has been with Instagram, which is where co-founder and CEO Pau Sabria said his company’s strength is, while Piquora’s strength is with Pinterest.
“The acquisition of Piqora merges two best-in-class technologies and creates the industry’s most powerful visual content marketing platform designed to help brands, CMOs, and social teams extract more value and drive revenue from content,” Sabria said in a release.
As visual networks like Pinterest and Instagram continue to open their doors and expand their services to advertisers, marketers will need services that help quantify their efforts with visual media.