Summary:
- NYC-based company Rokt acquires San Francisco-based company Canal to enhance ecommerce capabilities.
- The acquisition allows Rokt’s partners to access a curated network of third-party inventory from DTC brands.
- Canal utilizes AI and services to help brands increase revenue and expand product offerings.
Article:
Rokt Expands Ecommerce Capabilities Through Acquisition of Canal
Rokt, a leading company in the ecommerce industry based in New York City, has recently completed the acquisition of Canal, a San Francisco-based company known for its AI technology and services that drive clients’ third-party product revenue.
By merging forces with Canal, Rokt aims to provide its ecommerce partners with access to a diverse range of third-party inventory from direct-to-consumer (DTC) brands. This strategic move will enable Rokt’s partners to expand their product offerings and reach a wider customer base.
Founded in 2020 by Bennett Carroccio, Clay Schubiner, and Liam Kinney, Canal has built a reputation for using AI technology and innovative services to help brands scale their third-party product revenue. With a focus on empowering brands to sell anything, anywhere, Canal’s platform has been instrumental in driving revenue growth and increasing customer loyalty for retailers and brands.
Under the leadership of CEO Bruce Buchanan, Rokt is known for its expertise in real-time relevance in the ecommerce transaction moment. The company’s AI Brain and Ecommerce Network have facilitated seamless transactions for millions of customers, with notable clients including Live Nation, Macy’s, AMC Theatres, and Uber.
With offices across North America, Europe, and the Asia-Pacific region, Rokt continues to be a key player in the ecommerce industry, connecting customers with relevant products and services through its innovative technology solutions.
Overall, the acquisition of Canal marks a significant milestone for Rokt as it positions itself as a leader in the ecommerce space, offering enhanced capabilities and a broader range of products for its partners and clients.
