Founded in 2012, Preact has been instrumental in helping businesses attract new subscribers and retain existing customers. By leveraging the platform, marketers gain valuable insights into customer churn, renewal probabilities, and upgrade potential by analyzing patterns of product usage and behavior. The cloud-based company specializes in analytics, behavioral science, and machine learning.
In a move to further enhance its music streaming service, Spotify announced its acquisition of Preact in 2016. The deal, whose terms were not disclosed, will enable Spotify to utilize Preact's expertise in predicting consumer behavior related to subscription sign-ups and upgrades. Spotify aims to further personalize its user experience and deliver tailored recommendations and offerings to its subscribers. By harnessing Preact's analytical capabilities, Spotify will gain a deeper understanding of its users' preferences and behaviors, allowing for more targeted and engaging interactions.
Christopher Gooley and Cory Watilo