Carlyle Group Inc. invested up to $475 million in YipitData, a New York-based firm that collects alternative data for Wall Street and corporate clients.
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The investment values the company at more than $1 billion. According to YipitData s Chief Executive Officer Vinicius Vacanti, a donation from Carlyle will help it acquire new data sets and hire more analysts.
He said that the world has become more digital and there is so much data being created. There is no one helping investors and companies understand what is happening with all of that change. Vacanti founded Yipit in 2010 to help consumers find the best deals from Groupon Inc. and similar companies. The startup used its data to publish research, attracting stock market investors who want to understand an emerging corner of online sales.
By the year 2013 the startup had renamed itself YipitData and shifted its focus to analyzing information from a variety of sources, including websites, app data and email receipts. It sells research to investors focused on ride-sharing, payments, online real estate, and other industries that create troves of data. Its current roster of more than 400 clients includes investment funds and corporations.
Another recent deal for Carlyle offers the possibility of a parallel for YipitData. In 2018, the investment firm backed ZoomInfo Technologies Inc. and helped it carry out a key acquisition, court new customers and expand internationally, leading to an initial public offering. Anna Tye, a managing director who specializes in technology at the firm, said Carlyle could help Vacanti's firm in similar ways.
This is an opportunity to partner with an incredibly strong founder-CEO in a market that is growing really quickly, with a company that we think is the best in class, said Tye. As data is proliferating around the world, investors and corporations are increasingly choosing to use alternative data in their decision-making. None The Fall of a Russian Cyberexecutive Who Went Against the Kremlin