Shopkick Claims A Profit
Mobile shopping startup shopkick on Wednesday said it turned a profit for the first time in the fourth quarter of 2012, though it didn’t provide actual figures to support its claim. Launched in 2010, the shopkick app allows users to earn points, or “kicks,” toward rewards and discounts when they visit participating retailers.
The company said its in-store shopping tool generated $200 million in revenue for partner retailers and brands last year including American Eagle Outfitters, Best Buy, Macy’s Target, and Procter & Gamble, up from $110 million in 2011. To date, it has also driven 16 million verified store walk-ins, and 26 million product scans and millions of transactions.
Shopkick has received a total of $20 million in venture funding from investors including Kleiner Perkins Caufield & Byers, Greylock Partners and LinkedIn founder Reid Hoffman.