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Cartera Commerce Announces Record Revenues for Fiscal 2010Leader in Multi-Channel Shopping Solutions Achieves Triple-Digit Revenue Growth for Third Consecutive Year, Expands Reach to More Than 150 Million Consumers and Raises Series C Funding (August 09, 2010)
LEXINGTON, MA -- (Marketwire) -- 08/09/10 -- Cartera Commerce, the leading provider of multi-channel shopping solutions and merchant-funded rewards (formerly known as Mall Networks), today announced record revenues for fiscal year 2010, which ended March 31, 2010. Cartera's revenue grew by more than 100% in Fiscal 2010, marking the third consecutive year of triple digit growth. The company's strong financial results in Fiscal 2010 were driven by innovative new product releases, marquee client wins, successful program launches and key management hires. In addition to record-setting annual revenues, Cartera closed a $6.5M Series C venture round.
In a separate press release today, Cartera announced that the company has changed its name from Mall Networks to Cartera Commerce, reflecting its expanded capabilities and broader vision for merchant-funded, multi-channel shopping programs. See Mall Networks Rebrands as Cartera Commerce.
"Cartera's strong financial results are even more impressive given our performance marketing business model. This growth is a direct reflection of the value we deliver to our retail partners and clients every day," commented Tom Beecher, president and CEO of Cartera Commerce. "With an unparalleled in-store and online merchant network, a multi-channel shopping platform with rich offer targeting, and a growing roster of blue-chip clients, I expect Cartera to extend its market leadership through out fiscal 2011."
Fiscal 2010 highlights include:
New Marquee Clients and Expanded Deployments
Cartera launched new and expanded shopping programs for leading financial institutions, airlines and loyalty programs increasing the total reach of Cartera-powered programs to more than 150 million consumers.
- Delta and Cartera expanded Delta SkyMiles Shopping program with seamless, personalized integration of Northwest Airlines' WorldPerks Mall.
- Cartera partnered with JPMorgan Chase to launch Chase RealCash, a groundbreaking new debit rewards program where Chase debit card customers earn cash back on "everyday spend" merchant categories as well as bonus offers from a network of top grocery, gas, and drugstore retailers.
- USAA and Cartera launched USAA's highly successful MemberShop program, a new loyalty shopping program serving more than seven million members across multiple portfolios and loyalty currencies.
- The CyberMonday.com program from Shop.org, powered by Cartera, set record-high traffic and sales this past holiday shopping season, leveraging Cartera's new mobile marketing capabilities.
- Cartera partnered with Condé Nast to launch both a highly tailored comparison shopping engine for Lucky Magazine at Luckymag.com, and rollout an updated version of the popular Lucky at Your Service iPhone application.
Expanded In-Store and Online Merchant Networks
- Cartera's In-store Merchant Network swelled to more than 200 leading brick-and-mortar retailers including A&P, Chevron, Hess, Pathmark, Rite Aid and Texaco. Working with clients and merchants to deliver targeted, in-store shopping offers, Cartera's programs provide compelling marketing opportunities for retailers to acquire valuable new customers and drive incremental sales.
- Cartera's Online Merchant Network jumped from 600 to 800 online retailers with the addition of new merchants including Athleta, Barnes & Noble, Lillian Vernon, Rosetta Stone and The Limited. Cartera's network now includes 45 of the top 50 Internet retailers including BestBuy.com, gap.com, Sephora.com and Staples.com.
Innovative New Product Releases
Cartera Commerce released Cartera Version 5, an award-winning suite of multi-channel shopping and merchant-funded rewards solutions. Version 5 executed on the company's vision to create personalized, targeted shopping experiences and marketing programs across multiple-channels.
- All merchant types and models: Cartera Version 5 fully supports all merchant types and shopping models across national, regional, local and online merchants as well as all offer types including cash-back, points, miles, coupons and point-of-sale discounts.
- Personalized marketing modules: Cartera Version 5 features new personalized marketing modules and platform capabilities to deliver in-store and online offers via personalized web portals, rich search and comparison shopping, integrated email, online banking statements, mobile channels, toolbars and browser plug-ins, and direct mail.
- Enhanced targeting & behavior analytics: The Cartera Version 5 platform features enhanced targeting, which leverages transactional and user data to drive relevant in-store and online offers through multiple marketing channels. Cartera's platform also delivers advanced behavioral analytics that link together web click-stream, email, and transactional data to drive site and program optimization and strategy.
Industry Recognition and Partnerships
- Customer Interaction Solutions Magazine awarded Cartera its CRM Excellence award, recognizing the effectiveness and ROI of Cartera's merchant-funded rewards solutions.
- The Web Marketing Association recognized Delta Airlines and Cartera with its 2009 Airline Standard of Excellence WebAward for Delta SkyMiles Shopping.
- The Web Marketing Association also recognized Condé Nast and Cartera with its 2009 Retail Standard of Excellence WebAward for the Lucky Rewards online shopping program.
- Communications Solutions awarded Cartera its Product of the Year award, distinguishing it as one of the most innovative products and services brought to the market during the year.
Expanded Leadership Team
- Discover Financial Services veteran Michael Burke was named VP of Retail Partnerships, responsible for expanding Cartera's leading In-store Merchant Network. At Discover, Burke led the development, launch and growth of Discover's highly successful in-store and online merchant-funded rewards programs -- Discover Extras and ShopDiscover.
- Former Upromise executive Marc Mazzone was named Vice President of Merchant Services & Development, overseeing management and growth of Cartera's best-in-class Online Merchant Network, as well as all online advertising sales and merchandizing operations. At Upromise, Mazzone directed online merchant partnerships, advertising sales and content management operations for the largest coalition loyalty program in the United States.
- After management positions at Groove Mobile, BeFree and Zeemote, Karen Cambray was named chief financial officer of Cartera. Cambray's years of experience in performance marketing, mobile technology and financial operations made her the ideal hire to help manage the company's rapid growth.
About Cartera Commerce
Cartera Commerce is the leading provider of multi-channel shopping solutions and merchant-funded rewards that increase revenue, strengthen customer loyalty, and improve member engagement for a range of industries including financial services, card issuers, airline and hospitality, and loyalty programs. Featuring an integrated network of more than 800 world-class online and bricks-and-mortar merchants, Cartera Commerce's multi-channel shopping solutions and flexible, on-demand platform power personalized online and in-store shopping programs for more than 150 million consumers. Industry leaders including JPMorgan Chase, Delta, Best Buy, USAA, Upromise, and Verizon rely on Cartera Commerce to build loyal, profitable customer relationships. Cartera Commerce is headquartered in Lexington, Mass. For more information, visit http://www.carteracommerce.com.
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