After a year of big news, cart abandonment service provider Yieldify has announced a 411% increase in annual revenue over the course of 2014.
The company was expected to post a positive uptick in earnings after the recent opening of new offices in Berlin, New York and Sydney amid a noticeable improvement in business from its US division.
Cart abandonment becoming a key challenge in e-commerce has enabled Yieldify to reach out to a larger pool of firms looking for a way of boosting their online conversions. In evidence of this, a 325% lift in US revenue during Q4 2014 compared to Q3 2014 showed the firm gaining a strong international presence.
Yieldify CEO Jay Radia, who talked to PerformanceIN about the company's prospects last year, said he was “absolutely thrilled” about the company’s progress in 2014, while declaring an intention to further enhance the company’s platform in the year ahead.
According to the company, which remains headquartered in London, seven in ten consumers will abandon their online shopping baskets before making a purchase, creating a headache for the retailers in question.
Since launching in June 2013, Yieldify has gone about solving this issue through a messaging and analytics platform which facilitates the distribution of timely and relevant content to users that have expressed an intent to buy.
Recent growth has allowed the company to expand its staff count from just two members since starting out, up to over 100 spread across four different offices. Recruitment has also been aided by the $1.3 million gained in an investment round which took place last March.
Radia is adamant that 2015 will not only see an improvement in this technology, but the way in which Yieldify can serve its retailers.
“We have reached so many strategic milestones this year, especially with our launch into the US and Australian markets,” he commented.
“Moving into 2015, we're dedicated to continually improving our customer service and enhancing our platform. We will continue to help brands around the world engage more directly with their consumers across all channels and empower them to deliver the best possible service for the modern buyer."