Answers (formerly Answers.com) has announced that it has acquired SaaS platform developer Webcollage. The amount of the acquisition was not disclosed but it is believed to be less than the $50 million Webcollage has raised since its founding in 1999.
Webcollage, which has developed a SaaS platform for managing and publishing product information has over 1,000 premium consumer brands that create and publish product descriptions, videos, and interactive tours through their vast network of retail e-commerce sites. Answers hopes that Webcollage will enable it to help consumers make smarter decisions and help brands increase consumer engagement.
Answers is a social network website that answers users' questions. The company was founded in Israel but moved most of its operations abroad in 2011 after being acquired by US fund Summit Partners for $127 million, although it maintains a development center in Jerusalem.
WebCollage, which was founded by Eli Singer, Gil Taylor, and VP products and R&D Eilon Reshef. Headquartered in New York, the company's development center is in Ramat Hahayal, Tel Aviv. Investors include Greylock Partners, Cedar Fund, Sierra Ventures, Gilde Investment Management, and GSI Commerce.
Published by Globes [online], Israel business news - www.globes-online.com - on May 29, 2013
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