Archive for the ‘The Company’ Category
We have some big news to share!
DataMarket has been acquired by one of the most innovative companies in the data and analytics space: Qlik.
For those of you that don’t know Qlik, they – uh, I mean “we” – are the Business Intelligence vendor that pioneered the field of data discovery – a nimble, interactive and visual way to work with data that really disrupted the entire BI industry a few years back. With the recent launch of a next generation product – Qlik Sense – the BI process has been made even simpler with self-service discovery and visualizations that are so easy to use, anyone in an organization can build a visually compelling story using their data.
Qlik is a rapidly growing organization, with more than $470M in revenue last year, and publicly traded on NASDAQ since 2010.
We are not disclosing a lot about our joint plans at this time, but I’ll still say that we see some very interesting opportunities in bringing together Qlik’s superb analytics products, with DataMarket’s unique abilities to pull in, maintain and normalize data from a vast range of 3rd party sources – all in an effort to fulfill the Qlik vision of simplifying decisions for everyone, everywhere.
Also – while headquartered in the US – Qlik is originally out of Sweden with most of their R&D efforts still there. Qlik has some unmistakably Scandinavian characteristics, and after getting to know the company over the last few months I can say that the cultural fit has felt completely natural.
So, for us DataMarketeers, a new and exciting chapter begins. You won’t hear a lot from us in the next couple of months, but when we come back we’ll have a new home on the Qlik blog on Qlik Community.
In the meantime we encourage you to learn more about Qlik:
We have some exciting news! ProQuest, a leading provider of information solutions to academia and government has chosen our Data Delivery Engine to bring vast collections of statistical data to millions of faculty, staff and students around the world.
The product – named ProQuest International DataSets – is being announced and demonstrated today at the ALA conference in Chicago and will be launched this fall. It brings together not only some of the macro-economic data collections that we have previously made available on DataMarket.com, but also new and exciting sources including some of ProQuest’s own data collections and proprietary databases from Oxford Economics.
This is a major deal for us. Not only in the business sense, but also as it enables us to bring our technology and vision of putting the world’s data at the fingertips of those that need it to an enormous new audience. We see this as a great recognition of what we’ve already built, and a motivation to achieve even more.
That said, this is only the first step in a partnership that is going to last for a long time and bear a lot of new fruit in the months and years to come.
For details, see the official press release.
DataMarket is setting up an office in the US. More specifically in Cambridge, Massachusetts. (Update: As of March 2013 we are in Boston’s Financial District)
For those of you not familiar with the background, DataMarket is originally founded in Iceland in the summer of 2008. That’s where our product team is – and will be – located. We initially launched our services here and for the local market mainly, but with the obvious intention to broaden our scope. The opportunity for an active market place for data is obviously a global one and certainly not limited to our tiny island of 320 thousand inhabitants!
In fact, today – January 24th – marks the first anniversary of our international data offering.
A lot has happened since. We’ve learned a bit about what works, and a lot about what doesn’t in the emerging field of data markets. We’ve managed to build a significant and largely recurring revenue base, even though some of the revenues are coming from services we didn’t necessarily foresee a year ago. We’ve established good connections with some of the most interesting data providers out there. And we’ve learned a lot from feedback from our users and customers. Some of that feedback has already been incorporated in our product and technology.
At the Strata conference in late February, we will announce a range of new features, subscription plans and data sources, all resulting from the lessons we’ve learned in the last 12 months. More on that later!
The US office is also a result of this learning curve. Despite all the wonders of modern communication technologies, location still matters. Nothing beats meeting people face to face, looking them in the eye, listening to them describe their challenges and watching their reaction to your demo, your pitch and your sales arguments. Hardly anything sells itself over the Internet. Even Google has an army of people doing traditional sales: wining and dining, manning call centers, networking, meeting, greeting and doing business like business has been done for ages. And they’re Google!
Also, it turns out that there are more enterprise level opportunities in our business than we originally thought. And while data and feature subscription plans can indeed be marketed and sold online, enterprise solutions most certainly can not.
So, we’re setting up an office in the United States to build out our sales, marketing and business development operations.
And why Cambridge? First of all, the East coast was almost a no-brainer for us. The industries that have expressed the most interest in what we are doing, the research, media and financial industries are stronger on the East coast than the West. Looking at our sales pipeline it’s dominated by companies in Boston, New York and Washington D.C. This is also true of investors interested in the type of business we’re building. To overgeneralize, the data start-ups we’ve seen funded on the West coast tend to be more in the social, consumer oriented end of the spectrum, while those on the East coast seem to be more of the B2B, business analytics, financial nature.
We had our eyes set pretty firmly on New York, but then in a few weeks timespan late last year we saw good success with a few really interesting leads in the Boston area. In fact we’ve already signed a couple of super-interesting customers there and there are more in the pipelines. The research industry is really strong in the Boston area and that industry seems to be quite interconnected giving us a lot of opportunities to work the network and get more business going for us. Last but not least we value being close to the great universities in the area. So Cambridge it is.
And the commute from Boston to New York quite convenient – especially compared to the commute from Iceland.
I (Hjalmar) will be moving over in a few weeks time to start building the team and our success in this very dynamic market. I’d be most interested in hearing from people that would like to join our team or look into opportunities in working with us. If you are interested, please do not hesitate to get in touch.
At DataMarket we take data seriously. We are committed to doing our best to communicate the data we work with in the most objective, understandable and clear way possible.
To guide our decision making, state to our partners and customers, and remind ourselves of this commitment we’ve written our very own “Declaration of Principles” (in the spirit of Citizen Kane) that now proudly hangs on our office wall.
The declaration reads as follows:
Declaration of Principles
We respect data
- We will remain impartial and unbiased.
- We will deliver to users the same data we received from the data provider.
- We will never taint the presentation of data with value judgments.
Our performance is impressive
- We will never let users wait more than two seconds.
- We will never cut corners so that performance suffers.
- We will always be up.
Our user experience is delightful
- We help users find and understand the data that is relevant to them.
- We will never tell a user to read the manual.
- We will never let user experience suffer to make our lives easier.
- We will always continue to improve the user experience.
Our charts and tables communicate the data correctly AND look fantastic
- Our automated charts are of tailor-made quality.
- Our data views hold all the information needed to understand the data.
- We always convey data providers, sources, units, URLs for further info, licenses, titles, legends, selections and other metadata.
We respect our customers
- We will always strive to make our customers happy.
- We will always be straight with our customers.
We help you fall in love with data!
You can download the poster in PDF format here.
Comments and suggestions are welcomed.