It’s an exciting day here at Kibo, and I’m pleased to share the big news.
Today, Kibo announced that we have sold our Personalization business unit, formerly known as Monetate and Certona, to Centre Lane Partners.
This new personalization-focused business that we have spun off from Kibo will now be known as Monetate.
While Kibo and Monetate will be two separate companies moving forward, with a focus on commerce and personalization respectively, we are excited to continue partnering and working together. We will always have a strong bond, which we believe will benefit our mutual customers, allowing them to make the right choice for their business across their entire digital stack.
But what does this announcement mean for existing Kibo customers, our partners, and all employees?
You can read the official announcement that we made to the press here, but I also wanted to share a few more details about what this new adventure means for both Kibo and Monetate.
Over the past several years, our Commerce and Personalization business units have benefited tremendously from being under the singular purview of the Kibo brand.
We have realized a strong, differentiated commerce vision, and are recognized by Gartner as a leader in composable commerce. Earlier this year, we were named the Sole Leader of B2C Commerce Solutions by Forrester in “The Forrester Wave™: B2C Commerce Solutions, Q2 2022.”
Similarly, the personalization business (Monetate and Certona) has created an industry-leading, purpose-built Personalization solution that, with hundreds of clients and growing, is highly acclaimed and proven to meet the needs of some of the world’s largest brands. This transaction will unlock the full potential of the personalization business and enable it to pursue a horizontal growth strategy in verticals outside of commerce, such as financial services, travel & hospitality, and telecommunications, as well as to further expand its global footprint.
Our Personalization platform has won several TrustRadius Top Rated awards, and most recently was ranked as the 2022 #1 Personalization Vendor to the Top 1000 retailers.
As we look to the future of these businesses, we believe these two business lines are ready to dedicate the full force of our focus, funding, and teams toward realizing an even stronger position in the Commerce and Personalization landscapes.
Moving forward, our commerce business will retain the existing Kibo brand, and Kibo’s new CEO will be Ram Venkataraman. Monetate will be led by Brian Wilson, who will serve as the CEO of that new business.
The continued partnership and bond between the Kibo and the Monetate teams will benefit customers going forward, opening the door to unique partnering opportunities for mutual customers.
In most cases, there will not be staffing changes that affect our clients. If there are exceptions, we will work collaboratively with these clients to ensure continuity and excellent quality of care. Both Kibo and Monetate retain our commitment to our customers and are working diligently to make sure that this spin-off will be a smooth transition for everyone.
Likewise, our partner community will remain a critical part of the move-forward success of both teams. The Kibo and Monetate organizations are looking forward to continuing the strong partnerships that we’ve collectively built over the years.
Stay tuned over the next few weeks, for future blogs and other exciting updates from both Kibo and Monetate as we take off on this new adventure and reach new heights.
It’s truly a time of new beginnings, and I am personally excited about the bright future for both Kibo and Monetate. Finally, speaking of new adventures, with this transaction, I will also be stepping away from both businesses to pursue other opportunities. I wish success to both the Kibo and Monetate teams going forward!
It’s been an honor to lead Kibo, and I wish you all continued success.
CEO of Kibo