On Thursday, Purch, the online publisher announced its acquisition of ShopSavvy, a mobile shopping startup backed up by Facebook co-founder Eduardo Saverin. The financial terms of the deal were not disclosed.
Founded in 2008, ShopSavvy is one of the largest mobile shopping apps with over one million active monthly users and 30 million downloads to-date, functioning in Dallas and San Francisco. The app supports over 40,000 retailers and 100 million products with features that enable consumer to scan barcodes to search and find items at stores close by or online and compare prices, product details and review. Also, it is the first mobile shopping application that incorporated barcode scanning as its primary search mechanism. The app kickstarted after winning Google’s Android Developer Challenge in the summer of 2008.
Greg Mason, CEO of Purch strongly believes mobile app are the future of content and shopping on handheld and wearables devices and the acquisition will be an added advantage to the company’s publishing strategy to develop a loyal user base through mobile apps. He said, “2015 has been a big year for Purch and we are thrilled to close it with such a valuable addition to our portfolio of brands, services and technologies.” “We are excited about what we can do under Purch’s wing with the extra resources. We will help them with their mobile strategy as well apply our technology across their products,” said Rylan Barnes, co-founder and chief technology officer of ShopSavvy.
Read the full article here: http://www.thetechbulletin.com/online-publisher-purch-acquires-shopsavvy-an-e-commerce-startup-33269/