Singapore-based unicorn startup, Trax is going on a row of big announcements this year. At the latest announcement, it stated that the company has acquired Shopkick.
A brief on Shopkick
The later is a Silicon Valley-based company. It created a shopping app that grants rewards for users. The rewards come in various kinds such as gift cards to places like Target, Walmart and Starbucks. As well as donations, deals, sales and coupons.
Users can get the rewards from various activities in the platform. Starting from watching specific content, entering a shop and doing shopping activities either on and off-line.
The Californian company that started around 2011 has a number of partner on the list. It provides data and insights of customer behavior and loyalty towards its clients. Including EBay Inc., General Electric Co., Lego and Unilever.
The acquisition is done in an undisclosed number. Though the seller, South Korean giant corporation, SK Telecom acquired the company at $200 million in 2014.
What about Trax?
Meanwhile Trax, based on Singapore, is operating in roughly 50 countries around the world. It has many headquarters throughout Asia Pacific, Europe, Middle East, North and South America.
The company provides technology for big retail companies to monitor their performances physically. Those companies spend big money to have their products on the shelves. But finding out which selves sell the best and which marketing strategy success the most can be very tiring.
Trax cuts out the process and bringing the reports straight from the shelves to the company. It has around 200 brands as clients, including Coca-Cola.
Shopkick acquisition was just another thing to add on the big news Trax has in store this year. It previously announced that it is raising funds at $1.1 billion value. The round meant for another acquisition including LenzTech Co., Beijing.
Trax also stated that it is planning for an IPO within 18 to 24 months.
