NEW YORK--(BUSINESS WIRE)--Time Inc. (NYSE:TIME) announced today its acquisition of Bizrate Insights, a voice of the consumer data company that specializes in developing rich consumer insights by extending its online and mobile surveys across partner sites. Bizrate Insights was formerly owned by Connexity, Inc.
This acquisition marks another step in Time Inc.’s transformation into a data-driven organization, and it will enable Time Inc. to generate incremental consumer subscription revenue across a range of its owned and operated brands as well as third-party products. The voice of the consumer data cultivated through Bizrate Insights’ survey platform will also broaden the suite of integrated marketing services Time Inc. can provide to its advertising partners. Bizrate Insights and Time Inc. have a longstanding relationship that will now be further formalized.
Time Inc. Chairman and CEO Joe Ripp said, “We are excited to announce the acquisition of Bizrate Insights. The company immediately expands the suite of Time Inc.’s direct-to-consumer marketing services and is an important step in broadening our customer acquisition, retention and activation capabilities.”
Bizrate Insights will be integrated into Time Inc.’s Synapse Group, Inc., an affinity marketing subsidiary based in Stamford, CT.
Synapse CEO Sebastien Bilodeau commented: “Bizrate Insights allows us to substantially expand our digital marketing services, creating additional consumer touchpoints to help our marketing partners.”
Leslie Dukker Doty, Executive Vice President of Time Inc. Consumer Marketing and Revenue, who oversees the operations of Synapse, added, “Bizrate Insights will significantly enable Time Inc. to further optimize our subscription business by enhancing our first-party data and by improving our contextual offerings to our customers.”
Bill Glass, CEO of Connexity, commented, “We have been partners with Synapse for many years and are excited to see our partnership evolve to a point where Bizrate Insights and its industry-leading customer feedback products can contribute strategically to Time Inc.’s vision.”
ABOUT BIZRATE INSIGHTS
Bizrate Insights’ omni-device buyer and abandonment surveys are deployed across more than 2,500 retail websites in North America and Europe to develop voice of the consumer insights. Bizrate Insights enables retailers of all sizes to collect consumer ratings and reviews for free, and it offers paid subscriptions for customized surveys and advanced reporting.
ABOUT TIME INC.’S SYNAPSE GROUP, INC.
Time Inc.’s Synapse Group, Inc. is an affinity marketing company that creates custom marketing solutions to help partners achieve their strategic objectives. Synapse partners include brick-and-mortar retailers, ecommerce organizations, airlines, hotels and direct response companies. Synapse is a leading marketer of magazine subscriptions in the United States, with expertise in customer acquisition, continuity marketing, retention and customer service. Building on our continuity marketing expertise, Synapse has diversified the business to also market other products and services, including branded loyalty continuity programs.
ABOUT TIME INC.
Time Inc. (NYSE:TIME) is one of the world’s leading media companies, with a monthly global print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month, including over 60 websites. Its portfolio of influential brands includes People, Sports Illustrated, InStyle, Time, Real Simple and Southern Living, as well as more than 50 diverse titles in the United Kingdom.
