Bloomberg Buys Purchase Data Analyst Second Measure

Business and financial information pioneer Bloomberg has acquired purchase data analyst Second Measure, which helps investors and business clients gain insight into company performance and consumer behavior. Terms were not disclosed.

Second Measure, which is based in the Bay Area with an office in New York, feeds data from billions of anonymized transactions into self-service analytics products for daily tracking and real-time exploration of more than 5,000 public and private companies, via web-based visualizations. Investor clients use this to identify fast-growing consumer companies, validate investment theses and track company performance intra-quarter; while consumer brands can gain competitive intelligence, determine growth strategies and analyze consumer spending patterns. Bloomberg says this intelligence will complement its company fundamentals and market data with the 'alternative data' increasingly sought by investment firms.

Bloomberg CTO Shawn Edwards comments: 'Our clients are increasingly incorporating non-traditional data in their investment and business strategy decisions. We're committed to helping them extract high-value insights from those datasets faster, through innovative technologies and sophisticated models like those developed by Second Measure'. Second Measure co-founders Mike Babineau and Lillian Chou say Bloomberg's 'leadership, scale, and complementary products' will accelerate their firm's development and provide 'a tremendous opportunity to bring new data, tools, and methods to the market, helping to usher in a new era of company and consumer analysis'.

Web sites: www.bloomberg.com and www.secondmeasure.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.