Baifendian Group Acquires InsightWorks
BEIJING, December 29, 2017
Baifendian Group, a leading big data and AI solutions provider in China, has just announced that it has acquired InsightWorks, a leading Chinese online survey company, to further enrich its SaaS product and business layout on December 29th, 2017. After merger and acquisition, InsightWorks will continue to provide services for enterprises and consumers with independent brand operation. Meanwhile, Baifendian will inject the many years’ technical accumulation of big data and AI into InsightWorks to energize online survey and user insight by Big Data and AI.
Established in 2011, InsightWorks, as the pioneer and leader of consumer insight by combining big and survey data, takes the lead in launching Mobile Consumer Q&A Community and operates over 3 million active members, becoming the largest online consumer survey community in China.
InsightWorks has gained sound reputation within the industry with large number of quality enterprise clients and good products and services. It has served over 100,000 enterprise clients at home and abroad with mature SaaS business model, including many Fortune 500 enterprises and local renowned companies, such as Tencent, Unilever, L’Oréal, Starbucks, Pepsi, Midea, SF-Express, Ipsos, GfK and CTR.
In the trend of consumption upgrading, users’ consumption needs and behaviors become more diversified and real-time and they also more tend to seek extreme experience and expression. The traditional survey methods are far from meeting the expected flexibility and the needs of consumers deeply grasped by brand owners due to the issues including data limitations, sample authenticity, time lag and depth of presentation. In this new form of business, online survey companies start to explore model innovation. Surveymonkey, a new online survey company valued 2 billion US dollars, has already emerged in European and American market and played the leading role in market research with the latest technology. What’s more, Internet Giant also wants to make their presence into this area. “Google Surveys”, taking data at its core, assist enterprises to make more intelligent and efficient business decision via the closed loop between data and business formed by quick user insight in real-time.
InsightWorks has incisively captured the market trend to apply the new technology of big data into the consumer insight. In this connection, InsightWorks has developed several SaaS products including Lediaocha and Power Test to automatically realize the complex quota-setting, advanced analytical model application, report preparation during traditional professional survey with one-stop, shortening 80% of project cycle and reducing 70% of cost.
Baifendian remains committed to the deep integration of big data and AI technology in various industries and has accumulated abundant technical and practical experience. After merger and acquisition, Baifendian is dedicated to injecting strong technology, product and market capability to redefine consumer insight model so as to provide enterprises with more smart tools and services in the era of user consumption upgrading.
– Data synergy makes consumer insight more accurate. Baifendian has equipped with leading user profile technology within the industry, while InsightWorks has 3.18 million authorized active members. The synergy effect between data and technology after merger and acquisition will make consumer insight more accurate.
– Big data and AI technology redefine consumer insight. Baifeidian will make full use of data connection, smart tag and natural language processing for synergizing online survey, via AI and behavioral orientation technologies, combined with big and survey data, getting through multi-dimensional data including online and offline, user behavior and attitude so as to obtain the extensive and real feedback of consumers in an intelligently way.
– Share ecosystem to serve the industry. Baifendian has accumulated over 2,000 corporate-level clients covering various industries over the past eight years with several ecological partners evolving many fields including JCLOUD, Microsoft, Huawei, HP, CEIEC and Inspur, while InsightWorks has multilingual products including English and Japanese to serve many overseas clients, including Rakuten, the largest E-commerce in Japan, Royal Dutch Shell and Duracell in Singapore. Baifendian and InsightWorks will share ecosystem to jointly expand the domestic and foreign markets after merger and acquisition.
“Baifendian, as the leader of big data and AI application technology in China, has equipped with deep industry accumulation, good user group and strong product development capability. After the involvement in Baifendian, InsightWorks will achieve more long-term development for certain in terms of technology, market and ecosystem so as to further take the lead in the development of consumer insight market in China”, stated by Zuo Yunpeng, CEO of InsightWorks.
“Driven by new technology, the service mode of online survey is reshaping to demonstrate its huge market potential. InsightWorks has a forward-looking view and strong business capability. Both companies will jointly explore the innovation and change of online survey and consumer insight and be committed to providing industry users with more agile and intelligent products and applications as a way to collaboratively create China ‘SurveyMonkey’ and Google Surveys”, said by Ph.D. Meng Su, Chairman & CEO of Baifendian Group.