ShopSavvy, Capital One partner for mobile deals platform
ShopSavvy is expanding its signature application beyond barcode scanning and price comparisons, teaming with Capital One to offer consumers personalized deals and discounts.
ShopSavvy--available for Apple's (NASDAQ:AAPL) iOS and Google's (NASDAQ:GOOG) Android--will now present offers to all users who add their Capital One credit card to the app's mobile wallet. ShopSavvy CEO John Boyd told TechCrunch that deals are targeted based on each consumer's spending patterns and behaviors, not general popularity trends. The two firms also will look to attract users by offering a Capital One credit following the customer's first purchase within the ShopSavvy app. All Capital One deals are built on top of ShopSavvy's add-ons platform, which the firm introduced last year in order to distribute offers and content to consumers.
"The reason it's interesting to us is that it actually provides content to our customers," Boyd said. "When they make a purchase of $40 or more, they'll be eligible for a $20 statement credit from Capital One. But then, they're also eligible for Capital One deals, which is exclusive content to ShopSavvy users, based on what they're interested in. We want users, when they go to ShopSavvy, to feel like they get offers, coupons and deals that they're not going to see anywhere else, and we want to make that as easy as possible."
The original ShopSavvy app, introduced in 2008, enables consumers to scan UPC, EAN or QR barcodes to obtain in-store price comparisons and inventory information spanning local and online retailers. Downloads exceed 40 million. ShopSavvy added wallet functionality in late 2011 and now supports more than 40 retailers, including Best Buy and Barnes & Noble. In early 2012 the firm also launched SavvyListings, a Craigslist-like mobile marketplace enabling consumers to sell products directly from their smartphones.
ShopSavvy closed a $7 million Series A financing round in November 2011. Facebook (NASDAQ:FB) co-founder and private investor Eduardo Saverin led the round, concurrently joining ShopSavvy's board of directors.
- read this TechCrunch article
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