Irvine-based Local.com has acquired Krillion, a location-based shopping and consumer products search provider.
The merger will allow Local.com’s online shoppers to search products available at nearby retailers, with details on pricing, discounts and other information via Krillion’s Localization Engine, a patent-pending product search platform, and StockCheck, a real-time tool that allows online shoppers to search, compare prices and purchase items for pick-up at nearby retailers.
“Local product search is a natural fit for our business model and our key ‘soccer mom’ demographic,” said Raj Mohan, Local.com's senior vice president and general manager. “Krillion provides us with highly valuable local shopping content that we intend to deploy across our business in order to differentiate our various products to our end users, customers and business partners.”
The company is planning to integrate the new search technology platform, pricing and discount data into its current services on the Local.com site, future retail verticals, syndication of shopping data to the extended Local.com network business unit, which includes more than 1,400 regional media publishers’ websites. The Krillion platform also will be utilized in upcoming mobile communications platforms; the company expects to launch shopping apps for the iPhone, Android and Blackberry smartphones and tablets.
In addition, the company plans to integrate the new search engine technology into its other latest shopping feature, its newly launched daily deals website Spreebird.com.
Spreebird.com already has thousands of deals live in hundreds of markets across the country, with direct sales currently active in Denver, Philadelphia and Orange County. The company plans to expand into 17 additional markets by the end of the year.
For retailers, Spreebird offers a no-money-down performance-based advertising solution that allows merchants to connect directly with targeted local consumers, as well as an easy-to-measure return on their local online advertising investment.
“Our goal is to build Local.com into the leading online local media company,” said Heath Clarke, Local.com's chairman and CEO. “Over the past five years, we have built significant assets in this sector, which form the cornerstone of our future growth strategy. We’re now heavily focused on expanding our product range. We believe that Spreebird provides us with a significant long-term opportunity to diversify our revenues into the high-growth deal-of-the-day local advertising segment.”
Spreebird is Local.com’s upgraded and rebranded release of the recently acquired iTwango deal platform, and forms the company’s Social Buying business unit. Local.com expects that Spreebird will hold a niche space within the market, drawing on the company’s 20 million monthly consumers who search for local goods and services across the company’s network of more than 1,000 regional media sites and 100,000 websites hosted by Local.com and OCTANE360, a subsidiary.
“Spreebird’s mission is to provide consumers with the best daily deal discovery service on the Web, while providing local merchants with a highly desirable way to bring new customers directly to their cash register,” said Malcolm Lewis, Local.com's senior vice president and general manager of Social Buying. “We plan to leverage Local.com’s many assets to achieve our goal of establishing Spreebird as a top daily deal site.”
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