Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

shopkick, Inc. Reaches Profitability In Q4 2012 And Drives More Than $200M In Revenue For Its Partners in 2012

Most Widely Used Real-World Shopping App Turned Profit In Q4 with 60 Silicon Valley-Based Employees; Doubled Revenue Impact for Partners In 2012

PALO ALTO, Calif., Jan. 16, 2013 /PRNewswire/ -- shopkick, the most widely used real-world shopping app, announced today that it reached its first profitable quarter in Q4 2012. The 60-person Palo Alto-based team launched its new app version shopkick 3.0 in October 2012, which led to a very large holiday spike in both consumer usage and revenue – for shopkick and its partners.

"We have only been in the market for little over two years, and did not plan or expect to reach our first profitable quarter so quickly," said Cyriac Roeding, CEO and co-founder of shopkick. "Of course Holidays are always the sweet spot for retail, but this far exceeded even our hopes. With this milestone, shopkick is ready for 2013, when mobile payments and mobile loyalty will start to converge, which puts shopkick in a position to get even bigger this year."

Shopkick's role as mobile revolutionary in retail is recognized next week at the World Economic Forum in Davos as a Tech Pioneer 2013. Shopkick is also a Kleiner Perkins Caufield & Byers iFund investment.

Foregoing Ads for Engagement, shopkick Monetizes Mobile
While the mobile phenomenon rocks the world, making money – even with millions of users – has proved challenging to many companies, particularly startups, where mobile ad CPMs are low and inventory is plentiful. Shopkick's business model, in contrast, is designed to be the first 100 percent performance-based model in the physical retail world, where users earn rewards just for visiting stores; retailers get foot traffic, their most desired benefit; and brands get product interactions via mobile scans directly at the point of purchase. 

Shopkick has driven more than $300M in revenue to its alliance of retail partners and brands, with more than $200M in 2012. Each engagement on shopkick is valuable to brand and retail partners, and is a revenue event for shopkick: every walk-in to a partner store, every product scan, and every purchase. To date, shopkick has driven more than 16 million verified walk-ins to stores (2 million per month in Q4), 26 million product scans and millions of transactions. 

"Known business models proven on other channels don't translate 1:1 to mobile, but what shopkick has achieved is the equivalent to mobile adwords for retail. The impact can be as big as adwords have been for the Web, specifically because this too was built specifically to serve the value chain of the audience: in this case, retailers and brands," said Reid Hoffman, partner at Greylock Partners, co-founder and chairman of LinkedIn, and investor in shopkick. "The key to mobile is making an experience that can't exist without a mobile phone, based on performance-based business models, and that's why shopkick is performing so well."

The recent further accelerant of shopkick's pace was its recent addition of connecting the "couch mode" of consumers – browsing "lookbooks" of products before consumers even reach the store – with its unique "store mode," where consumers are rewarded with loyalty points just for walking into their favorite stores with the shopkick app.  This "arc from the couch to the store" can only be created by shopkick, because shopkick has deployed its high accuracy location technology at over 7,500 stores throughout the United States.

Since launching in 2010, shopkick has accumulated 15 national retailers, including Target, Macy's, Old Navy, American Eagle, Best Buy, Crate & Barrel, Toys"R"Us, ExxonMobil and Simon Malls, and more than 70 brands such as Procter & Gamble, Kraft Foods, Disney, Revlon, Unilever, Pepsi, and top financial institutions, Visa and MasterCard, as partners.

Shopkick offers rewards in the form of "kicksTM," shopkick's cross-retailer reward currency, to shoppers, for walking into stores, scanning products and making purchases. Right in the shopkick app, shoppers can redeem kicks to treat themselves with store gift cards, free coffee and dinners, Coach handbags, song downloads, movie tickets, Facebook Credits, donations to charity and more.

Shopkick is available for free on the iPhone from the App Store at www.itunes.com/appstore/ and for Android from Google Play at https://play.google.com/store/apps/details?id=com.shopkick.app. See how shopkick works here (video): http://youtu.be/ejx1LdgcUPA.

About shopkick, Inc.

shopkick, Inc. is the largest real-world shopping app, and the first mobile application that hands consumers high-value rewards, offers and exclusive deals at its national retail partners simply for walking into more than 7,500 stores and malls, and for interacting with partner brand products at over 250,000 locations nationwide. In 2012, Nielsen rated shopkick the most widely and often used real-world shopping app, ahead of any physical retailers' apps.  Shopkick is the only 100% performance-based marketing platform in the physical retail world, with measurable foot traffic and transactions at stores. The app grew to 4 million users in little over two years. The free shopkick app is available for the iPhone and Android.

Shopkick's growing Partner Alliance includes American Eagle Outfitters, Best Buy, Crate and Barrel, ExxonMobil, Macy's, MasterCard, Old Navy, Simon Property Group, Sony, The Sports Authority, Target, Toys"R"Us, The Wet Seal, Visa, Procter & Gamble, Kraft Foods, Revlon, Unilever, Levi's, Intel, HP and more. The Palo Alto-based startup is funded by Kleiner Perkins' iFund, Greylock Partners and Reid Hoffman, founder of LinkedIn, and investor in Facebook and Zynga. In 2012, the World Economic Forum (WEF) named shopkick a Tech Pioneer, an honor previously given to Google, Twitter, and Wikipedia.

 

SOURCE shopkick, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"We view the cloud not as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo (http://www.CloudComputingExpo.com), held June 7-9 at the Javits Center in New York City, NY.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...