Shopkick lands on SK Planet in $200m acquisition

Oct 2, 2014 • Robert Lavine

Financial services firm Citi exited the mobile shopping rewards company through the deal, which will involve Shopkick becoming part of the SK Telecom group.

SK Planet, the mobile online service subsidiary of telecommunications network SK Telecom, has acquired Shopkick, the US-based developer of a shopping rewards app, for $200m.

The purchase allowed Citi Growth Ventures & Innovation Group, a corporate venturing subsidiary of financial services firm Citi, to exit Shopkick.

Citi Ventures was an early investor in Shopkick, which raised $20m in 2009 and 2010 from an investor base also including Simon Venture Group, a subsidiary of property developer Simon, VC firms Kleiner Perkins…

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