Computer vision and analytics solutions venture, Trax, is to acquire Shopkick, a US-based shopping rewards app provider. Terms of the deal were not disclosed, although a source familiar with the situation told RTIH it carried a “rather substantial” price tag.
“Bringing together shelf and shopper data will deliver new and powerful insights to CPG brands and retailers. Shopkick’s unique direct access to customers, first-party database on consumer in-store actions, omnichannel insights and access to a broader ecosystem of retailers and brands made this a strategic fit for Trax" says Joel Bar-El, CEO and Co-founder of Trax, which last year was valued at more than $1 billion after raising $125 million.
“Joining forces with Trax will accelerate and further expand our innovative consumer experiences,” says Adam Sand, CEO at Shopkick. “The combination of Trax’s unparalleled computer vision technology and our engaging omnichannel approach will offer our current and future customers the most powerful set of tools on the market.”
Shopkick will operate independently with headquarters in Redwood City, California, under the Trax brand.