RichRelevance, the leading provider of dynamic e-commerce personalization for the world’s largest retailers, today announced it has appointed Eduardo Sanchez as President. Sanchez brings more than 25 years of global leadership, operational and technical experience in enterprise computing, cloud services, mobile and social applications and data infrastructure to the company.
He was one of the earliest members of the MicroStrategy leadership team and over his 16-year tenure played a major role in driving the development of the company into a global market leader, most recently serving as Executive Vice President of Strategic Development. Sanchez has also held executive roles at Paris-based Cartesis (acquired by Business Objects in 2007) and Lawson Software (acquired by Infor in 2011).
At RichRelevance, Sanchez will be responsible for the daily operation of the company, including engineering, data science, cloud infrastructure, product management, marketing, sales, services and partnerships. He will play a key role in driving the company’s continued growth and rapid international expansion to meet accelerating global demand for personalization and data-driven retail. He will report directly to RichRelevance founder and CEO David Selinger.
“Eduardo combines a proven strategic intelligence with a deep understanding of the global enterprise,” said David Selinger, CEO and Founder of RichRelevance. “He helped drive Microstrategy from emerging technology to dominant market leader, and his expertise aligns perfectly with where we are in our business today. His leadership and experience are invaluable as we continue to forge new ways for retailers, brands and consumers to derive value from our technology. I am very proud to welcome Eduardo to the RichRelevance team and look forward to his immediate impact on our business.”
Sanchez’s appointment comes as RichRelevance continues to aggressively evolve personalization for retail across its global base of leading retail and brand customers. Founded by the team that pioneered the use of data to personalize product recommendations at Amazon.com, RichRelevance ranks #1 for personalization by Internet Retailer based on online sales across its clients in the Internet Retailer 1000. In aggregate, RichRelevance’s clients represent more than one-third of online retail and today the company serves six of the top 10 US retailers in ecommerce.
The company’s industry-leading cloud-based personalization platform currently supports billions of shopping transactions every day, delivering product recommendations, dynamic offers and tailored shopping media in real time, and at the scale of global retail. The enRICH™ platform has driven nearly $8 billion in attributable sales for its retail partners.
“RichRelevance has quietly developed a technology and infrastructure on par with the largest enterprise software vendors and consumer tech brands on the web today,” said Sanchez. “They are consistently delivering spectacular results for their retail clients, and are a trusted partner to the largest and most innovative retailers. I am excited to join such an amazing team and company and look forward to continuing to drive value for retailers, brands and consumers.”
During his first tenure at Microstrategy, Sanchez played a major role in the development of the company from creation to $350M in annual revenue. As EVP of Worldwide Sales and Services, he was responsible for the worldwide P&L of the company’s field operations including the licenses, maintenance, consulting and education lines of the business. During his second tenure, Sanchez had a direct hand in the company’s foray into new lines of business with products like Wisdom and Alert, which leverage Big Data, mobile, social and cloud technologies.
Previous leadership roles include EVP of Global Sales at Lawson Software, where he was responsible for $850M in annual revenue. Prior to that, he was the Chief Operating Officer of Cartesis, where his responsibilities included sales, consulting, technical support, education, partner management, field marketing and client solutions. In this role, he grew the business to $135M in annual revenue prior to the company’s acquisition.
“As an investor, technologist and advisor, I have worked closely with David from RichRelevance’s earliest days,” said David Stohm, Partner at Greylock Partners. “The directors and I look forward to working with David and Eduardo as we advance into a new, highly dynamic growth phase that takes full advantage of RichRelevance’s personalization and data capabilities.”
