Gift Card Firm Buys Predictive Tech Company Tastebud

Gift card marketplace Raise has acquired predictive technology firm Tastebud Technologies, which creates customized mobile shopping experiences based on a user's style preferences. Terms of the deal were not disclosed.

Founded in 2011 by Tyler Spalding (pictured) and Frank Yang, Tastebud offers access to patented predictive technology which uses quizzes, games and other interactive elements to assess mobile users' shopping preferences, and then presents them with personalized incentives. Through the use of location-based and beacon technology, Tastebud delivers push notifications or SMS to shoppers to drive store traffic and other immediate purchases.

As part of the deal, the Tastebud team will move into Raise's headquarters Chicago, where Spalding will take the position of Chief Strategy Officer. The acquisition comes after Raise closed a $62m Series B round of funding in January.

Raise founder and CEO George Bousis explains: 'Tastebud has years of great experience working with malls and retailers to understand consumer shopping patterns and brand affinity, and we believe there is an opportunity to leverage their technology and learn from their knowledge to enhance the Raise user experience'.

Web sites: www.raise.com and www.tastebud.co .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.