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Drinks Acquires Electriq Marketing To Supercharge Alcohol E-Commerce

Apr 27, 2022over 3 years ago

Acquiring Company

DRINKS

Acquired Company

Electriq Marketing

Los AngelesCommerce And ShoppingData And AnalyticsSoftwareSales And MarketingSoftware

Description

DRINKS, the leader in e-commerce alcohol, announced that it has acquired Electriq Marketing, a Shopify-focused digital retention and growth agency. With this acquisition, DRINKS now provides all the technology and expertise necessary to start, run, and grow the e-commerce alcohol category.

Company Information

Company

DRINKS

Location

Los Angeles, California, United States

About

DRINKS connects retailers, brands, and marketplaces to the $250 billion alcohol market. The company’s pioneering Wine as a Service (WaaS) platform allows any retailer, brand, or marketplace to launch a ship-to-home wine program quickly and easily, enabling our partners to offer 1-2 day delivery to customers across the U.S. DRINKS’ 40-year Direct to Consumer marketplace Wine Insiders was named America’s Best Online Value Retailer by Wine Enthusiast. DRINKS powers this new operating system for e-commerce alcohol with its patented Predictive AI Retailing platform that leverages Artificial Intelligence, Machine Learning, Computer Vision, and Natural Language Processing to provide its partners with data-driven insights that generate personalized shopping experiences that drive customer loyalty. In 2022, DRINKS acquired Electriq, a Shopify-focused digital retention and growth agency, to provide all the technology and expertise necessary to start, run, and grow the e-commerce alcohol category. A leader in the Shopify ecosystem, Electriq is a Klaviyo Elite Master Partner, an Attentive Pioneer, a Recharge Premier Partner, and a certified partner with Shopify, Rebuy, Okendo, and other industry leaders. DRINKS was twice named one of America’s Best Startup Employers by Forbes, a top place to work by Built In LA for the last four years, and was recognized as the Most Innovative Retail Model by Modern Retail.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed