e-Rewards, Inc. (“e-Rewards”) today announced it has reached an agreement to acquire Peanut Labs, Inc. (“Peanut Labs”). Under the terms of the agreement, Peanut Labs will become a wholly-owned subsidiary of e-Rewards with completion of the acquisition expected in October 2010, subject to the satisfaction of customary closing conditions.
e-Rewards will Enhance Services with Addition of Social Media Sample
Founded in 2007, Peanut Labs has 35 full-time employees and is headquartered in San Francisco. Peanut Labs enables companies to gather quality data for market research by embedding surveys into a large and diverse population of social media sites. Users complete a preliminary profile questionnaire that enables Peanut Labs to target their respondents with the most appropriate survey invitations. Since 2007, Peanut Labs has more than tripled its partner base from 60 to over 200 highly diverse social media applications and communities, including major social and gaming networks such as Facebook, Zynga and MySpace. Peanut Labs has grown its respondent pool from 20 million consumers in 2007 to over 240 million consumers to date.
“As researchers are increasingly looking to incorporate social media into their sampling methodologies, Peanut Labs will serve as a strong fit to accelerate our social media strategy while enhancing the global capabilities we offer to researchers,” commented Chris Havemann, President and Chief Executive Officer of e-Rewards. “Whether our clients choose to sample from our proprietary online panels, from our social media sources or from a blend of the two, we are committed to providing our clients with representative and high quality sample for their research studies.”
Commenting on the announcement, Murti Hussain, President of Peanut Labs said: “All of us at Peanut Labs are excited about joining forces with Research Now. Our social media panels and sampling capabilities will immediately provide clients with access to people who are not otherwise participating in the research process via traditional online panels. Combining Peanut Labs sampling capabilities in social media with Research Now’s global online panels, our clients will now have access to the largest and most diverse global respondent universe available to support online research projects.”
Concluding his remarks Chris Havemann added, “We look forward to working closely with our clients to utilize social media-sourced sample in the ways that best achieve their research objectives and will maintain our commitment to providing quality and transparency to our clients.”
Peanut Labs Brand
As part of the terms of the acquisition, Peanut Labs will retain its distinct brand identity for the publishers business, as Peanut Labs, an e-Rewards Company. Peanut Labs survey business will trade as part of Research Now, and will cease to be a client-facing trading brand from January 1, 2011, at which time the Peanut Labs sales and operations teams will be fully integrated within Research Now.
About e-Rewards, Inc.
e-Rewards, Inc. headquartered in Dallas, TX, owns Research Now, the leading global online sampling and online data collection company, recognized for delivering high-quality panelists, high response rates, and industry-leading panel retention rates. Research Now serves over 2,000 clients, has over 900 employees and a multilingual staff located in 21 offices around the globe.
About Peanut Labs
Headquartered in San Francisco, CA,Peanut Labs currently manages monetization for more than 200 million monthly website visitors. The company has won numerous awards, including a FAST Top 50 2008 ranking and the Advertising Research Foundation's 2008 Silver Innovation Award. To learn more, visit