Liverpool-based LivingLens, the platform that offers video-based insight tools helping brands, agencies and technology providers turn consumer insight films into market research, has been acquired by Medallia, a customer feedback management software platform for approximately $26 million in cash, subject to general terms.
Founded Nov 2014 by co-Founders Carl Wong (current CEO) and David Woods (current COO). LivingLens captures and analyses video content via speech, actions and sentiment, translating human behaviour into insights by breaking down video into a usable data asset.
Since youtube came online in 2005 giving video expression to the masses and the launch of many other popular video streaming platforms such as Vimeo and TikTok, content marketing has seen a steady shift from traditional and print based marketing to video streaming.
As the rising popularity in Video continues to grow, being able to see and understanding the true effect your brand message has on consumers and how well you resonate with them is essential, possibly even critical when you consider the cost of video, the time and effect a poorly targeted campaign may have on your budget not to mention your brand.
“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, CEO for LivingLens.
LivingLens is helping manage and leverage your position by unlocking video based data and helping gain consumer insights through analyses of video content via speech, actions and sentiment, translating human behaviour into insights.
LivingLens currently has offices in London, New York and Toronto and operates in 44 languages and 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.