SEOUL, KOREA - SK Planet will move into the mobile commerce business in the United States by acquiring Shopkick, a Silicon Valley company developing shopping apps for smartphones.
The Korean company said on September 28 that it has signed an agreement on the previous day to purchase the mobile commerce platform company. A SK Planet official said, "We bought Shopkick in order to strengthen our mobile-based business in a situation where the line between online and brick-and-mortar markets is blurring."
Established in 2009 in Redwood City, California, Shopkick is famous for a popular shopping app that offers customers rewards for walking into stores. It uses points called "kicks" which are usually awarded when users walk into participating stores.
In 2012 it was ranked the most widely used and most engaging shopping app in the real world by Nielsen. Partner stores include Target, Best Buy, Macy's, Crate & Barrel, Old Navy, American Eagle Outfitters, Sports Authority, Toys R Us, and Simon Malls. The program is also supported by 70 brands, which currently include P&G, Unilever, Mondelez, Colgate, Revlon, Disney, Levi's, and HP. The number of smartphones in use in the United States is 160 million, with the mobile commerce market size reaching $41 billion as of the end of 2013.
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