Combination Delivers Rich Visual Insights and Sentiment to Drive Continuous Experience Improvements, Loyalty and Revenue
Carl Wong, our co-founder and CEO talking about the future of LivingLens following the acquisition announcement.
SAN FRANCISCO--(BUSINESS WIRE)--Medallia, Inc. (NYSE: MDLA), the global leader in experience management, today announced they entered into a definitive agreement to acquire LivingLens, the video feedback platform, to humanize feedback and bring the voice of the customer and employee to life.
“With 3.5 billion global smartphone users and 54 percent of all mobile brand experiences being video and image-based it is vital to capture this exciting feedback signal. Today nearly 70 percent of our solicited feedback is sent via mobile”
Video feedback is a goldmine of experience information and one of the most exciting technologies to be applied to customer feedback. By capturing video signals and transforming them to speech, emotion and sentiment, LivingLens gives businesses unmatched insight into customers and employees feelings, wants and needs.
“Video feedback is one of the most powerful innovations in experience management today. Video brings 6x more feedback signals than text responses. Video feedback is being deployed across industries. Hospitality, travel, retail, consumer goods, auto, technology, financial services and telecommunications companies all use video feedback to better understand their product, customer and employee experiences in live-time,” said Carl Wong, chief executive officer for LivingLens. “We are thrilled to become part of the Medallia family and provide our customers with the world-class customer insights they need to transform their businesses.”
LivingLens adds video feedback to the mix of signals customers and employees are generating on a daily basis. The platform captures and analyzes video insights in a single platform to extract meaning that drives better decision making from executives to frontline employees.
“With 3.5 billion global smartphone users and 54 percent of all mobile brand experiences being video and image-based it is vital to capture this exciting feedback signal. Today nearly 70 percent of our solicited feedback is sent via mobile,” said Leslie Stretch, President and CEO of Medallia. “Our acquisition of LivingLens will give our customers in all industries the ability to leverage video feedback alongside social, voice, app and web in Medallia’s leading experience management solution.”
Under the terms of the agreement, Medallia will acquire LivingLens for approximately $26 million in cash. The acquisition is expected to close in February 2020, subject to customary closing conditions.
Medallia (NYSE: MDLA) is the pioneer and market leader in Experience Management. Medallia’s award-winning SaaS platform, the Medallia Experience Cloud, leads the market in the understanding and management of experience for customers, employees and citizens. Medallia captures experience signals created on daily journeys in person, digital and IoT interactions and applies proprietary AI technology to reveal personalized and predictive insights that can drive action with tremendous business results. Using Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, and create in-the-moment cross-sell and up-sell opportunities, providing clear and potent returns on investment.
© 2020 Medallia, Inc. All rights reserved. Medallia®, the Medallia logo, and the names and marks associated with Medallia’s products are trademarks of Medallia. All other trademarks are the property of their respective owners.
LivingLens helps the world’s best brands, insight specialists and technology providers work with video feedback at scale by analyzing the data contained within speech, sentiment, emotion and objects. The LivingLens video intelligence platform automatically extracts insights and identifies key themes that navigate to meaningful content quickly, facilitating powerful stories to inspire action and drive change within organizations.
LivingLens was founded in 2014 in Liverpool, and has offices in London, New York and Toronto.