January 4, 2016 (Los Angeles, CA) ─ Siemer & Associates LLC, the investment bank serving the digital media, software and technology industry, is pleased to announce it has advised ShopSavvy on its sale to Purch, a digital content and services company with a portfolio of digital brands that help millions of people make smarter purchases. ShopSavvy is a leading mobile shopping app that supports over 40,000 retailers and 100 million products with barcode scanning, search and price comparison details that has over 1 million active monthly users.
“Purch’s acquisition of ShopSavvy is representative of Purch’s acquisition strategy to build a loyal user base through mobile apps,” said David Siemer, Managing Director of Siemer & Associates. “We are delighted that leveraging our extensive sector expertise and relationships resulted in finding an acquirer that is a perfect fit.”
ShopSavvy will remain a standalone service and app, adding to Purch’s growing mobile app ecosystem. The back-end technology powers a unique, multi-retailer product catalog that classifies products, sales and deals. It also aggregates and categorizes deals from thousands of retailers, sends sale alerts on searches, and shares daily and weekly deals based on shopper interest, intent and location.
The transaction closed on December 14, 2015. The financial terms of the deal were not disclosed. The ShopSavvy team will be joining Purch, and its offices will become the San Francisco branch for New York City-headquartered Purch.
ShopSavvy is a mobile shopping application that incorporates bar code scanning as its primary search mechanism. ShopSavvy is best known for its mobile app that allows consumers to scan barcodes to find the best deal from local and online retailers. Founded in 2008, ShopSavvy was the first mobile shopping application that incorporated barcode scanning as its primary search mechanism. The app got its start on Android after winning Google’s Android Developer Challenge in the summer of 2008.
About Siemer & Associates LLC
Siemer & Associates LLC is a boutique merchant bank that serves digital media, software and Internet companies throughout their business life cycles. Our investment banking professionals have successfully completed more than 70 transactions that aggregated over $3 billion in sell-side mandates and surpassed $1.5 billion in equity capital. We offer exceptional corporate M&A, capital raising and financial advisory services.
S&A is committed to offering honest advice and guidance based on relevant experience, deep domain knowledge and an understanding of the market. We provide our clients with the insight and perspective necessary to make informed decisions, resulting in an enviable record of client satisfaction and success. Siemer & Associates is headquartered in Los Angeles, CA with offices in London, Sydney, and Singapore.
S&A’s affiliate, Wavemaker Partners, is one of the most active investment funds in Southern California, claiming more than 170 current portfolio companies and making an average of 30+ new investments each year. As part of Wavemaker Partners, Wavemaker Labs, is a Singapore-based incubator under the Technology Incubation Scheme (TIS) of the Singaporean government’s National Research Foundation (NRF).