Combination Delivers Rich Visual Insights and Sentiment to Drive Continuous Experience Improvements, Loyalty and Revenue
Medallia, Inc., the global leader in experience management, announced they entered into a definitive agreement to acquire LivingLens, the video feedback platform, to humanize feedback and bring the voice of the customer and employee to life.
Video feedback is a goldmine of experience information and one of the most exciting technologies to be applied to customer feedback. By capturing video signals and transforming them to speech, emotion and sentiment, LivingLens gives businesses unmatched insight into customers and employees feelings, wants and needs.
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“Video feedback is one of the most powerful innovations in experience management today. Video brings 6x more feedback signals than text responses. Video feedback is being deployed across industries. Hospitality, travel, retail, consumer goods, auto, technology, financial services and telecommunications companies all use video feedback to better understand their product, customer and employee experiences in live-time,” said Carl Wong, chief executive officer for LivingLens. “We are thrilled to become part of the Medallia family and provide our customers with the world-class customer insights they need to transform their businesses.”
LivingLens adds video feedback to the mix of signals customers and employees are generating on a daily basis. The platform captures and analyzes video insights in a single platform to extract meaning that drives better decision making from executives to frontline employees.
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“With 3.5 billion global smartphone users and 54 percent of all mobile brand experiences being video and image-based it is vital to capture this exciting feedback signal. Today nearly 70 percent of our solicited feedback is sent via mobile,” said Leslie Stretch, President and CEO of Medallia. “Our acquisition of LivingLens will give our customers in all industries the ability to leverage video feedback alongside social, voice, app and web in Medallia’s leading experience management solution.”
Under the terms of the agreement, Medallia will acquire LivingLens for approximately $26 million in cash. The acquisition is expected to close in February 2020, subject to customary closing conditions.
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