Performance Marketing Brands, a company which offers shoppers a slew of rewards programs, has recently added another website to their growing family. The company has acquired Pushpins, a mobile application for saving money on groceries via virtual coupons. According to TechCrunch, the acquisition price was likely in the range of $10 to $15 million.
Founded in 2012, Pushpin was created by current CEO Jason Gurwin, a 2008 graduate of the Wharton School of the University of Pennsylvania and current CMO Peter Michailidis, a 2007 graduate from Ohio State University. The company was a finalist in PepsiCo10, MassChallenge and was venture-backed by Lightspeed Venture Partners according the Pushpin’s website.
Pushpin’s application gives shoppers the opportunity to use digital coupons and rewards when they scan a UPC at the grocery store. Some stores that currently support the application include Foodtown, Giant Eagle, Harps, Just Save Foods, Lowes Foods, MainStreet Market, Marsh, Shop ‘n Save, ShopRite, and Rite Aid. In addition to the app’s coupon features it also provides users with access to digital shopping lists, nutritional information and access to their shopping history.
When customers clip a digital coupon using the Pushpin app, the savings are loaded onto the customer’s grocery store loyalty card, which is instantly taken off during the checkout process.
Performance Marketing Brands seems to be an ambitious and every growing company. Pushpin should fit in with the other deal savvy companies PMB already owns. According to their website, Performance Marketing Brands portfolio of coupon and deal companies includes: Ebates, a sales, coupons and cash back from all your favorite stores, Ebates.ca a sales, coupons and cash back for Canadians who love to shop and save online, FatWallet a hot deals straight from member forums plus coupons and cash back, AnyCoupons where consumers can find any coupon available online and OneReceipt a way to organize spending with all your receipts in one place.
Source: TechCrunch
1-25-13: This article previously read: “Founded in 2012, Pushpin was created by current CEO Jason Gurwin, a 2008 graduate of the Wharton School of the University of Pennsylvania and current CMO Dan Lambert, a 2007 graduate from Ohio State University.”
We wanted to make notice, it was a mistake on our behalf and we have changed it to read: “Founded in 2012, Pushpin was created by current CEO Jason Gurwin, a 2008 graduate of the Wharton School of the University of Pennsylvania and current CMO Peter Michailidis, a 2007 graduate from Ohio State University.”
We’re sorry for any inconvenience this may have caused. Thanks for understanding!
