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
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...