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ChannelAdvisor (NYSE: ECOM) announced enhancements to its multichannel commerce platform, aimed at supporting brands and retailers ahead of the holiday shopping season. Key features include a self-service option for Shoppable Media campaigns, A/B testing for product content, expanded support for Amazon's Blank Box program, and the launch of the ChannelAdvisor Commerce Network, promoting e-commerce partnerships. With over 200 marketplace integrations, the platform aims to help sellers optimize operations and enhance shopping experiences, ensuring competitive performance during peak sales periods.
ChannelAdvisor (NYSE: ECOM) has been named a finalist for the Google Premier Partner Awards for the second consecutive year, recognized in both Online Sales and Account Team categories. The company attributed its nomination to successful campaigns executed during the pandemic, notably helping a sporting goods brand achieve a revenue increase of up to 206% YoY. This recognition underscores ChannelAdvisor's strong alliance with Google and its capabilities in driving online sales through innovative digital marketing solutions. Winners will be revealed on Oct. 19, 2021.
ChannelAdvisor Corporation (NYSE: ECOM) announced the appointment of Himanshu Palsule to its board of directors, effective October 4, 2021. Palsule, a seasoned technology leader with over 30 years of experience, previously served as President at Epicor Software and held key positions at Sage Software. Chairman Timothy Buckley stated that Palsule's expertise will greatly benefit the board as they aim to enhance their e-commerce solutions. ChannelAdvisor continues to support brands and retailers worldwide by optimizing their online sales and performance.
ChannelAdvisor (NYSE: ECOM) announced the launch of the ChannelAdvisor Commerce Network on October 12, 2021, aimed at helping brands and retailers find preferred selling channels. This in-platform experience allows users to connect and expand their e-commerce presence across various online marketplaces and retail channels. The network features customizable profiles and search filters to facilitate connections. Steve Frechette, VP of Product Management, emphasized the importance of this centralized platform for fostering new partnerships and reaching new consumers.
ChannelAdvisor targets revenue exceeding $250 million and adjusted EBITDA above $50 million for the year ending December 31, 2025. The Board of Directors has authorized a share repurchase program of up to $25 million, aimed at enhancing shareholder value. Purchases will be executed opportunistically through August 2022. The company emphasizes its potential for sustained double-digit revenue growth and strong cash flows. A detailed financial strategy will be discussed at the upcoming Virtual Analyst Day on September 17, 2021.
ChannelAdvisor Corporation (NYSE: ECOM) announced support for eBay's Promoted Listings AdvancedBETA, enhancing its multichannel commerce platform to improve product visibility and drive online sales for sellers. This new cost-per-click advertising model offers eBay sellers in the US, UK, DE, IT, and AU advanced campaign management capabilities, connecting them with millions of active buyers. With an established partnership with eBay, ChannelAdvisor aims to simplify online selling and advertising, enabling brands to strategically position their merchandise across various channels.
ChannelAdvisor Corporation (NYSE: ECOM) has made a $3 million deposit at M&F Bank to support sustainable growth among local minority-owned businesses. M&F Bank, a historic institution in Durham, NC, focuses on providing financial solutions to underserved communities. The partnership aims to help reduce barriers to capital for minority entrepreneurs impacted by the pandemic. CEO David Spitz emphasized the commitment to increasing economic opportunity, while M&F Bank's CEO James Sills appreciated the alignment of their organizational values.
Event Scheduled for September 17, 2021
ChannelAdvisor Corporation (NYSE: ECOM) will host an Analyst Day on September 17, 2021, at 9:00 a.m. ET. The virtual meeting will cover the company's strategy, innovation plans, and financial insights, followed by a live Q&A with executives. Interested participants can register through ChannelAdvisor's event page. A replay will be available on the investor relations website.
