• Business Insider, Tuesday, August 17, 2010 2 PM

Business Insider suggests paying attention to Shopkick, a San Francisco-based startup that is being positioned as a Foursquare for shoppers. The company has "the combination of early deals, big-name backers, and buzz that makes it worth watching," according to Business Insider. Its new iPhone app, which is launching this week, is "right at the interesting junction of mobile apps, location-based services, and commerce."

Insists Business Insider: "Someone is going to make money here someday, and Shopkick is one of the most ambitious, interesting attempts we've seen." Initial Shopkick partners include nationwide chains like Best Buy, American Eagle Outfitters, Macy's, and the Sports Authority, as well as shopping-mall outfit Simon Property Group. Shopkick has actually placed devices in participating stores, which will determine when app users are nearly, and then give them "Kickbucks" rewards. Users can earn more Kickbucks for scanning in barcodes of products with their phones, as well as recieve special offers. "So basically Kickbucks is creating a rewards system; a portfolio of your shopping habits and the merchandise you find interesting enough to scan -- so it can potentially target you better with deals; and a virtual currency that can be redeemed for goods in the future."

Read the whole story at Business Insider »