Silicon Valley ecommerce company Magento bought RJMetrics’ core business for an undisclosed amount. The partial acquisition also creates a new Philly startup, Stitch.
August 1, 2016 | Technical.ly by Roberto Torres
…Analytics software company RJMetrics has sold its legacy CloudBI business for an undisclosed amount to Silicon Valley ecommerce company Magento. RJ officials say Magento will retain 37 members of the company’s current staff of 67.
The other half of the Center City-based analytics company — its Pipeline division, which launched in the fall of 2015 — will spin off to become a new company called Stitch (here’s the new website already), with cofounder Jake Stein at the helm.
The remaining 30 members of RJMetrics’ staff will be joining this new venture, along with cofounder and CEO Robert Moore, who will serve as Chairman of the Board of Directors…