Review provider gets cash injection
Bazaarvoice, the provider of consumer reviews to online retailers, has secured a new round of funding from investors, according to this article on TechCrunch.
The $8.8m round was led by Battery Ventures and will see its general partner Neeraj Agrawal joining the company’s board.
Bazaarvoice, which launched in February last year and recently opened an office in London, says over 100 retailers are now using its service, including Dell.com, QVC.com and PETCO.com.
It competes with the likes of Reevoo and PowerReviews for white label deals.
Although suppliers differ in their coverage, flexibility, pricing and charging models, more retailers are looking to display reviews on their sites, either in-house or through a third party.
In our recent Social Commerce Report (commissioned by Bazaarvoice), 28% of the online sellers we surveyed were already offering customer ratings and reviews, while 52% said they were considering doing so.
They saw the main benefits as increased conversion rates and customer loyalty.
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