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Shares in ATTRAQT Group plc, a leading provider of site search and online merchandising solutions, rose 7% on the first day of trading last week, when the company joined the AIM Market of the London Stock Exchange. The shares started trading on 19th August 2014 at 53.5 pence per share, valuing the company at over £11 million.
ATTRAQT was founded in 2003 by André Brown (CEO) and Dan Wagner (Chairman), with the ambition to provide the best possible site search service for online retailers, with early customers including Nectar and BT Directories. In 2009, the Group upgraded its platform and launched recommendations and visual merchandising through what is now its main SaaS product, Freestyle Merchandising. Freestyle Merchandising acts as an overlay to a retailer’s eCommerce site and works to enhance the customer’s experience as well as the sales performance of the site. The client base has grown to over 80 clients, including Tesco Clothing, Boohoo.com, Superdry, Laura Ashley, Emma Bridgewater, Ellis Brigham, Paperchase, Screwfix, T.K. Maxx, BBC Retail and BT. The company has market presence in Western Europe and the US with offices in London and New York.
ATTRAQT raised £1.25m at the time of the Admission to AIM to fund the growth of the company going forward.
Commenting on the successful Admission to AIM André Brown, Chief Executive and co-Founder, said:
“Online retail has seen massive growth over the past decade, but many retailers are still struggling to truly capitalise on the change in the market. We are seeing growing demand for our merchandising technology from some of the major players in retail, seeking to significantly increase their online revenues, improve conversion rates and customer retention, and increase the average value of orders.
We have a strong portfolio of clients and believe that by joining AIM, we will have an increased profile with future customers and better access to funds, allowing us to further develop ATTRAQT both domestically and internationally. Our scalable business model, impressive client list, experienced management team and innovative technology offering means we have confidence in the future success of ATTRAQT as a plc.”
Published on: 1:48PM on 29th August 2014