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Scott Weavers-Wright sells Elevaate to Quotient

Silicon Valley giant Quotient Technology has acquired UK startup, Elevaate, which uses a technology platform to drive retailers’ eCommerce sales through sponsored search and product ads. Terms of the deal were not disclosed.

Elevaate is the brain child of Scott Weavers-Wright, who sold his previous company Kiddicare for £70 million to Morrisons. Its technology will be rolled out across Quotient’s customer base – including Albertsons – whilst Weavers-Wright will leave the business to concentrate on new opportunities, including investment in digital businesses.

The venture will continue to be headquartered in Stamford in the UK. Engineering teams, meanwhile, will be tripled to support US roll-out.

“I am very proud and excited for the team to be part of a billion-dollar business based in California. After all, it’s not every day a Silicon Valley giant acquires a tech platform in Stamford,” says Weavers-Wright. 

In the early years of his career, he was frequently asked by suppliers and brands if he could elevate their products higher up search results pages. But limitations on technology meant it wasn’t possible.

"In the following years I discovered supplier contribution formed a critical part of the trading arrangement between suppliers and the retailer at a global scale," he says. "And after asking ‘why is nobody doing this?’ I took the plunge, and this is now one of the biggest technology acquisitions in the UK this year."

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