Purch, a NYC-based digital content and commerce company, acquired ShopSavvy, a mobile shopping app.
The amount of the deal was not disclosed.
Available on iOS and Android, ShopSavvy is a mobile shopping app featuring over 40,000 retailers and 100 million products with more than one million active monthly users and 30 million downloads to-date.
It is backed by Facebook co-founder, Eduardo Saverin, and former CEO of Saks, Brad Martin, among others.
The transaction, Purch’s fourth acquisition in 12 months as it continues to leverage its $135m Series C funding round, is intended to enhance its mobile strategy and extend its mission of enabling buying decisions for the “small screen” and bridge the online and offline retail.
ShopSavvy will remain a standalone app, adding to Purch’s mobile app ecosystem, while its back-end mobile product search and machine-learning technology will be integrated across Purch’s sites to surface and categorize deals and power price comparisons for its audience of more than 100M users.
Led by Greg Mason, CEO, Purch operates a portfolio of digital brands including Top Ten Reviews, Tom’s Guide, Tom’s Hardware, and Live Science that aim to facilitate buying decisions for consumers and businesses. Its sites connect in-market shoppers with more than 7,000 marketers and sellers, driving conversion rates and $1 billion in commerce transactions annually.
The company has more than 350 employees and offices across the U.S. and Europe. or follow the company on Twitter, LinkedIn and Facebook.
FinSMEs
17/12/2015