At first look, Quiq and Snaps would possibly sound like comparable startups — they each assist companies speak to their prospects through textual content messaging and different messaging apps. However Snaps CEO Christian Brucculeri mentioned “there’s nearly no overlap in what we do” and that the businesses are “nearly full enhances.”
That’s why Quiq (primarily based in Bozeman, Montana) is buying Snaps (primarily based in New York). The whole Snaps staff is becoming a member of Quiq, with Brucculeri changing into senior vice chairman of gross sales and buyer success for the mixed group.
Quiq CEO Mike Myer echoed Bruccleri’s level, evaluating the scenario to dumping two items of a jigsaw puzzle on the ground and discovering “the 2 items match completely.” Extra particularly, he advised me that Quiq has typically targeted on customer support messaging, with a “do it your self, toolset strategy.” In spite of everything, the corporate was based by two technical co-founders, and Myer joked, “We will’t perceive why [a customer] can’t simply name an API.”
Snaps, in the meantime, has targeted extra on advertising conversations, and on a managed service strategy the place it handles the entire technical work for its prospects. As well as, Myer mentioned that whereas Quiq has “actually targeted on platform side from starting” — constructing integrations with greater than a dozen messaging channels together with Apple Enterprise Chat, Google’s Enterprise Messages, Instagram, Fb Messenger and WhatsApp — it doesn’t have “a deep pure language or conversational AI functionality” the way in which Snaps does.
Myer added that demand for Quiq’s providing has been rising dramatically, with income up 300% year-over-year within the final six months of 2020. On the identical time, he steered that the divisions between advertising and customer support are starting to dissolve, with service groups more and more given gross sales targets, and “at youthful, extra commerce-focused organizations, they don’t have this differentiation between advertising and customer support” in any respect.
Apparently the 2 firms had been already working collectively to create a mixed providing for direct messaging on Instagram, which prompted broader discussions about the right way to carry the 2 merchandise collectively. Shifting ahead, they are going to provide a mixed platform for a wide range of prospects below the Quiq model. (Quiq’s prospects embrace Overstock.com, West Elm, Males’s Wearhouse and Brinks Residence Safety, whereas Snaps’ane Bryant, Stay Nation, Basic Meeting, Clairol and Nioxin.) Brucculeri mentioned this may give companies one product to handle their conversations throughout “the complete buyer journey.”
“The important thing time period you’re listening to is dialog,” Myer added. “It’s not a few ticket or a case or a query […] it’s an ongoing dialog.”
Snaps had raised $11.3 million in complete funding from traders together with Sign Peak Ventures. The monetary phrases of the acquisition weren’t disclosed.