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Any consumer or professional buyer who wants to buy a product or a service, needs product data to help understand those products or services and make an informed decision. Such product data can be found more and more online, and consumers and buyers expect web shops and other e-commerce companies to provide all the product data that they need. These e-commerce companies increasing rely on data providers such as the Icecat N.V. to help them with fulling this information need.
Icecat is a profitable and rapidly growing online publisher and syndicator of product data, especially for the ecommerce market. Icecat provides product data in 47 languages and is actively used virtually anywhere in the world, now in 243 different countries.
On the one hand, Icecat works for about 300 sponsoring brands. For these sponsoring brands, Icecat supports their sales channel with a suit of multimedia product data services, called Open Icecat.
“The Icecat service delivers a good solution for providing product data to the Sony etail partners. The account managers of Icecat are always looking for solutions and ways to improve their services. It's therefore a dynamic relationship.”
Sony, Timon Kuit - Commercial Executive Sony
On the other hand, Icecat provides subscriptions to product data to tens of thousands of webshops, comparison sites, purchase portals and other e-commerce companies and apps, including the largest e-commerce companies in the world. Icecat helps them to fully cover their online catalogs, search filters and comparison apps with relevant product data under the service name Full Icecat.
“Now we also want to encourage the toy brands to offer their product information through Icecat. This gives both us and the brands great efficiency improvement."
Bol.com, Marco de Vries - Senior Manager Content Solutions at Bol.com
Thanks to the free open content catalog of Open Icecat, the Company has developed into a widely trusted and used, global resource for product data. The following non-financial usage stats give an impression of the Company’s relevance for the global e-commerce sales channel.
The estimated number of connected (registered) e-commerce or channel partners – free users of Open Icecat or customers of paid Full Icecat - has grown steadily to more than 50,000 by December 31, 2015.
These e-commerce companies, and individual consumers and professionals, were responsible for around 6.5 Billion data-sheet downloads in 2015, 65% more than during 2014. The graph below, shows the fast-growth of the Company’s data-sheet downloads from 2010 till 2015, combined for Open Icecat and Full Icecat.
The Company product data was downloaded in 2015 by e-commerce users from 243 different countries. The 15 most active countries are given below and include the most active e-commerce markets such as the USA, Europe, Russia and China.
The relative importance of the home market, The Netherlands, is gradually reduced. In Q1-2016, also Germany overtook the Netherlands in terms of data-sheet downloads.
The key sectors for Icecat are:
The Company’s core market of providing product data in ICT & Electronics, has only 3 global players: apart from the Company, these are CNET Content Solutions (acquired by Columbia Broadcasting System - CBS), and Etilize (acquired by GfK). In other critical segments, such as FMCG (Groceries), there is Brandbank (acquired by Nielssen in 2015). In many product categories, there is still a ‘blue ocean situation’, in which hardly any provider of structured and enriched product databases is available in the market. In general, the product data syndication market is still in its infancy or early stages of development, as e-commerce is still a relative new industry and market.
The order intake of Company grew with a compound annual growth rate (CAGR) of 24.64% from EUR 1.8 million in 2010 to EUR 5.4 million in 2015.
In 2011, the Company closed a contract with Sanoma to take-over the product content services of Kieskeurig for Consumer Electronics Retailers. This deal was effectuated during 2012.
From 2010 to 2015, the EBT (Earnings or profit before tax), expanded with a CAGR (compound annual growth rate) of 44.44% from EUR 154,000 in 2010 (non-IFRS) to EUR 966,000 in 2015 (IFRS).
The Icecat Group consists of the Company (Icecat NV) and its Subsidiaries Icecat LLC (Icecat Ukraine) and Icecat Content Sourcing OÜ (Icecat Estonia). Icecat Ukraine and Icecat Estonia are responsible for the direct sourcing of editor capacity, and are cost centers of the Company. Hatch BV (former Iceleads BV), is providing ‘Where To Buy’ solutions to manufacturers, i.e. smart “buy now” buttons that transform manufacturer websites and campaigns into lead and sales generators for their online resellers.
M.J. (Martijn) Hoogeveen - Founder & General Manager (CEO)
Martijn Hoogeveen is involved in the Company as CEO and founder since 2001. He got the idea for Icecat’s services while creating and managing earlier retail and e-business enterprises, for which high-quality and consumer-oriented product data was required. The former professor multimedia/e-commerce is a driving force of the innovation and global expansion of Icecat. Via his investment vehicles Netvalue and iMerge, he has 18 years of experience in the management of fast-growth tech ventures, portfolio management, and mergers & acquisitions, what is useful for the continued fast-growth of the Company.
Emre Tan Altinok - Managing Director
Emre Tan Altinok is responsible within the Company for international sales and is involved since 2008. He did a master in International Finance & Economics at the University of Amsterdam. He proved himself within the Company as -subsequently- an effective sales for the German and Turkish markets, product manager Full Icecat, and currently as a gifted teambuilder. Relevant is further his experience in risk management at PWC and sales at IBM.
The net proceeds of the offering of depository receipts in Icecat is entirely used to raise capital for financing the further growth and development of Icecat.
Icecat has ambitious growth plans:
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