Icecat, global provider of product content syndication, acquired key assets from Decodata. Decodata is a company specializing in product data solutions for the home decoration and interior design sector. This asset deal, which comes after Decodata’s recent bankruptcy, includes its brand, domain names, client and product data, and software.
With this acquisition, Icecat aims to integrate Decodata’s data into its existing platform. Icecat is taking a measured approach to entering the home and interior design vertical.
“The home living sector is an exciting space, but we recognize it requires careful understanding,” says Martijn Hoogeveen, CEO of Icecat. “We’re giving ourselves time to explore with Decodata’s partners how best to serve this market.”
Icecat plans to keep the Decodata brand intact to ensure a smooth transition and maintain market trust. The management of Icecat, which published its Q3 results last week, doesn’t expect a material contribution on short-term growth from this take-over.
The curator report states that participants in Decodata invested 2 million euro over the course of its existence. However, the revenues and results were bleak. This limited market response couldn’t convince investors to continue financing Decodata. “From our experience in developing new categories, we know that one has to be prepared for the long haul as many chicken and egg issues have to be resolved first”, says Hoogeveen. “Brands, distributors, merchants, and marketplaces all have to align on a standardized data model. And, they need to accept a third party data source as an intermediary between all the trade partners. Therefore, it takes perseverance, political skills and proven solutions to develop a successfully a new category in the product data business.”
Icecat has already shown that it can successfully develop new product data categories in: Tech, Media & Entertainment, Consumer Electronics, Fashion, Toys & Games, etc. etc. This makes Icecat a logical party to try to realize the mission that Decodata started.
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