Click here to close now.

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
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, connected, and small. If your ambitions are big, so are ours. In his session at @ThingsExpo, Jack Hu, D...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An active participa...
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge. IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are being generated, and that data is being processed into useful actions that can “command and control” thi...
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
The worldwide cellular network will be the backbone of the future IoT, and the telecom industry is clamoring to get on board as more than just a data pipe. In his session at @ThingsExpo, Evan McGee, CTO of Ring Plus, Inc., discussed what service operators can offer that would benefit IoT entrepreneurs, inventors, and consumers. Evan McGee is the CTO of RingPlus, a leading innovative U.S. MVNO and wireless enabler. His focus is on combining web technologies with traditional telecom to create a new breed of unified communication that is easily accessible to the general consumer. With over a de...
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...