The market research press has not commented yet on the news, but this is big. By separating its Ciao Internet Survey Solutions and Comparison Shopping Businesses, Greenfield Online (SRVY) is doing a bold move that many financial analysts have been asking since the acquisition of Ciao last year. By spliting the two businees, Greenfield Online paves the way for a potential sale of the attractive Ciao comparison shopping business (Shopzilla, Yahoo/Kelkoo, Shopping.com and many others will certainly be interested), which would bring enough cash for Greenfield to focus on its core business: data collection for market research. Now, the challenge will be to split two assets that have very strong synergies. Will Greenfield Online buy panel members recruited by Ciao, pay them a fee every time members take surveys? Will the brands stay the same or Ciao Surveys become Greenfield Online? My friend Nicolas Metzke, who is now Ciao’s Managing Director, will have to find a delicate balance between providing more clarity to investors and keeping operational synergies. An exciting business case!
Disclaimer: I worked for Ciao from 2000 to 2004 and was involved in the company’s strategy. Although I am currently a client of Greenfield Online, I have had no insider information on the company’s strategy since I left two years ago.
Update: of course, the MR press has commented on the news the day after my post (see here or here), even if most articles only copy the press release and do not mention a potential sale of ciao.com…
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