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CommerceHub has unveiled its new branding as Rithum. The rebranding unites several leading eCommerce firms including multichannel commerce solution provider, ChannelAdvisor, and distributed inventory platform Dsco, alongside the acquisition of UK-based AI startup Cadeera. Rithum will now orchestrate the eCommerce operations of 40,000 brands, retailers, and suppliers, overseeing 2.4 billion transactions daily and managing an annual GMV (Gross Merchandise Value) of $50 billion USD.
Bryan Dove, CEO of Rithum, said, "We're thrilled to introduce Rithum, which now represents the company we've built over the last 20 years - one that has brought industry-leading businesses together to create unmatched value for our customers. Our mission is to build profitable and lasting commerce businesses for the world's greatest brands, retailers, and suppliers. It's truly how we operate everyday... This next chapter will be our best yet. I'm incredibly proud of the momentum and innovation we've seen in our business, and we are committed to fuelling our customers' growth well into the future."
Rithum's network extends to more than 40,000 brands, retailers, and suppliers, and supports the entire eCommerce lifecycle. This includes managing product listings, marketing, sales, and delivery, allowing business to rapidly expand their product assortment and effectively manage their inventory based on changing consumer demands. Today, Rithum processes $50B USD in annual GMV and is also responsible for managing over $500M USD in digital marketing and retail media ad spends.
Heather Hershey, Research Director at Worldwide Digital Commerce CIS, IDC, commented, "Leaders from brands and retailers need a partner that is thinking holistically across different partnership models in the connected commerce ecosystem. Rithum aims to fill this gap in the industry and serve as a one-stop-shop powering the entire eCommerce shopping journey."
As part of its growth strategy, Rithum has acquired Cadeera, a UK-based AI startup. The acquisition of Cadeera signifies Rithum's commitment to optimising delivery operations, costs, and platforms for its customers by leveraging artificial Intelligence. The AI-enabled platform combines the latest advances in computer vision, language processing, and machine learning to streamline processes including product onboarding, search, and discovery.
Aarthi Ramamurthy, Chief Technology and Product Officer at Rithum, expressed her enthusiasm about the acquisition stating, "We're excited to welcome the Cadeera team to Rithum. With this new platform, AI will accelerate Rithum's disruption of commerce by automating a number of processes across the eCommerce lifecycle enabling retailers and brands to meaningfully reduce operating expenses and increase speed-to-site for new products. This is just the beginning for us. We will continue to invest in this area significantly to infuse AI across our entire platform, equipping brands and retailers with the tools they need to grow their businesses."
