By Teresa Novellino
After receiving venture capital funding, startups typically start putting their money into growth whether it be by staffing up or new product development. Here’s one New York and Utah-based business that did a little bit of both through acquisition.
What’s the news: In June, Purch closed a $135 million investment round from Canso Investment Counsel to fund strategic acquisitions. ( See our interview with its CEO here.) Today, the tech content and commerce company that reaches nearly 57 unique visitors monthly, announced that it has acquired Active Junky, a loyalty platform and online shopping community that rewards and incentivizes consumers who buy outdoor gear from different retailers. With the acquisition, Purch which has offices in New York City and Ogden, Utah, adds a fast-growing shopping community of outdoor enthusiasts, plus a rewards and loyalty platform.
Read the full article here: http://www.bizjournals.com/newyork/news/2015/09/18/purch-acquires-active-junky-outdoor-good-platform.html