Today, I’m excited to share some big news: RJMetrics has been acquired by Magento Commerce and our RJMetrics Pipeline business has been spun out into a standalone company called Stitch. You can read the full press release here. I will join Magento as the Head of Magento Analytics and my co-founder Jake Stein will lead Stitch as CEO. We’re all staying in Philadelphia.
As RJMetrics has grown over the past several years, we’ve worked tirelessly to create value for our customers. Throughout this process, one theme was consistently clear: our CloudBI product, to be marketed as Magento Analytics going forward, is the best way for ecommerce businesses to make smarter, more data-driven, decisions. From day one, this product has thrived in the Magento ecosystem as a natural complement to Magento’s industry-leading digital commerce platform.
When Magento spun out of eBay last year into a standalone company, Jake and I knew there was a great opportunity to forge a deeper partnership with one of the most important platforms in our industry. Just a few months later, I’m thrilled to be joining forces with the Magento team. Together, we will invest heavily in our platform and revolutionize the analytics functionality available to every merchant in the Magento ecosystem. Our platform will also remain available to non-Magento merchants and online businesses, as its value stretches far wider than any individual data source.
In the journey of building RJMetrics, we also uncovered new opportunities in the emerging and dynamic analytics market. RJMetrics Pipeline, our ETL service that allows developers to consolidate disparate data sources with ease, has formed a large beachhead of its own. This product has shown exciting promise as a compliment to many modern analytics tools, including CloudBI.
As part of this transaction, we were thrilled to carve out RJMetrics Pipeline into a standalone company that is backed by our existing investors, including Trinity Ventures, August Capital, and SoftTech VC. This company, launching today, is called Stitch and you can learn more at StitchData.com. My co-founder Jake Stein will lead the company, and I will remain involved as Chairman. You can read Jake’s thoughts on the new venture here.
None of these exciting changes would be possible without the support of our families, our teams, our customers, our investors, and our community. Thank you all for your support and for joining us in this exciting new chapter!