Raise Acquires Tastebud

raiseRaise, a marketplace that enables members to purchase gift cards below face value and sell unwanted gift cards for cash, acquired Tastebud Technologies, a developer of predictive technologies that create customized mobile shopping experiences based on a user’s style sensibilities.

The amount of the deal was not disclosed. Following the acquisition, the Tastebud team will move into Raise’s headquarters in Chicago Sullivan building, which will soon be expanding to allow the company to accommodate another 100 employees, to be hired by the end of the year.

Led by CEO Tyler Spalding, who will take the position of Chief Strategy Officer at Raise, Tastebud partners with malls, outlets and shopping districts to offer patented predictive technology that uses quizzes, games and other interactive elements to assess mobile users’ shopping preferences, and then presents personalized incentives. Through the use of location-based and beacon technology, the company delivers push notifications or SMS to shoppers to drive store traffic and other immediate purchases.

Led by George Bousis, founder and CEO, Raise closed a Series B round of funding in January 2015.



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