US-based mobile shopping app producer ShopSavvy has been acquired by digital content and e-commerce company Purch for an undisclossed amount, providing an exit to IT infrastructure outsourcing company Architel.
Founded in 2008 as GoCart, ShopSavvy’s platform enables consumers to search products across 40,000 retailers. Users can scan barcodes to see price comparisons with nearby shops, see product details and read reviews.
The technology will be integrated across Purch’s suite of products, while ShopSavvy will continue to operate as a standalone service. The deal marks Purch’s fourth acquisition this year following a $135m series C round in June 2015 raised specifically to fund M&A deals.
Architel backed ShopSavvy’s $700,000 seed round in 2008, raised after the startup won $275,000 prize as part of internet company Google’s Android Developer Challenge.
Eduardo Saverin, co-founder of social media platform Facebook, led the company’s $7m series A round in 2011 participating alongside other angel investors.
Greg Mason, chief executive of Purch, said: “Mobile apps are the future of mobile content and shopping. ShopSavvy supports our strategy of service-oriented publishing and building a loyal user base.
“Not only are we gaining an app with new monetisation opportunities, but also incredible talent, a powerful technology infrastructure that will be integrated across our portfolio of sites, and a massive user base.”
