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.
Further to the acquisition, Purch will retain everyone on the team except for Boyd, the company’s CEO who is interested in continuing to launch and grow new startups. ShopSavvy will remain a standalone service and app, adding to Purch’s growing mobile app ecosystem. Like the company’s other acquisitions, ShopSavvy’s powerful back-end mobile product search and machine-learning technology will be integrated across Purch’s sites to segregate deals and power price comparisons for its growing audience of more than 100M users. Mason added, “This influential price-comparison app will integrate with our other brands so we are able to provide all of our users with the information they need to find the best product, at the best price, in the most convenient way possible.”
Phil Barrett, senior vice president of Purch said, “We have done a good job at evolving to 100 million users a month and provided them resources so they can make good buying decisions. Now ShopSavvy allows us to tell people the best place to buy it.”
This acquisition marks the fourth of Purch, that secured $135 million in Series C round of funding few months ago. Previously, it had acquired AnandTech, ActiveJunky and Consumr, which is now PurchX.