MOUNTAIN VIEW, Calif., Nov. 2, 2015 /PRNewswire/ -- Quotient Technology Inc. (NYSE: QUOT) (Formerly Coupons.com Incorporated (NYSE: COUP), a leader in the digital transformation of the multi-billion dollar promotions industry, today announced that it has acquired Paris-based Shopmium, an award winning mobile receipt scanning and cash-back app platform that has saved consumers millions of dollars on products from companies such as Coca-Cola, SC Johnson, Heineken, and L'Oreal. Terms of the deal were not disclosed.
The acquisition gives Quotient a new way to reach consumers through their mobile devices. It also enhances the company's data capabilities to deliver personalized and targeted media and promotions.
"This is a natural addition to our great consumer portfolio, our platform and network," said Steven Boal, founder and CEO of Quotient. "The Shopmium team is extremely talented; the app has gained traction in Europe, and we believe there is a big opportunity in the U.S., where Shopmium is just getting started, as well as in other markets."
Being part of Quotient's expansive network gives Shopmium a big advantage in the category. A pioneer in digital promotions, Quotient today works with more than 2,000 consumer packaged goods brands, counts more than 64,000 retail stores as part of its network, and delivers digital offers to tens of millions of consumers every day. It does this through its flagship consumer destination, Coupons.com, which has approximately 17 million unique visitors a month, its popular Coupons.com and Grocery iQ mobile apps, its network of nearly 30,000 publishers, and by powering the apps and websites of many grocery, drug, mass, dollar and club retailers across the U.S.
With Shopmium, which itself has partnerships with more than 250 CPGs, Quotient has a new way to reach consumers directly, and in a category – mobile receipt scanning and cash-back apps – that is growing in popularity. Using the app, shoppers can easily browse grocery, household goods and personal care items, where they see relevant media and ads. They then redeem offers by taking a photo of the receipt. The offers aren't specific to retailers, so consumers can get cash back regardless of where they shop. The company already has over two million registered users and has been growing at a quick pace, adding thousands of users a day.
"With more than 97 million people expected to use mobile coupons this year in the U.S. alone, we believe the potential is vast," said Eli Curetti, cofounder and CEO of Shopmium, who will continue to lead the product as part of the Quotient family. "I'm thrilled to join Quotient, and look forward to expanding and improving our easy-to-use consumer product, while leveraging the Quotient sales force to quickly ramp up in the U.S."
Shopmium comes with a seasoned team, most of who reside in Paris (Quotient has long had a European presence through its London-based office). Curetti founded Shopmium in 2011 along with technologist Quentin de Chivre and Philippe Cantet, a top marketer. Before starting Shopmium, Curetti and de Chivre were executives at PriceMinister, France's largest ecommerce site, when it was acquired by Japanese ecommerce giant Rakuten.
Shopmium is backed by Accel Partners, as well as Europe-based Ventech, ISAI and Xange.
For more information on how to use Shopmium, please visit Shopmium.com. To download the free app, please visit the Apple or Google Play store.
About Quotient Technology Inc.
Quotient Technology Inc. (NYSE: QUOT), which recently changed its name from Coupons.com Incorporated, is a leading digital promotion and media platform that connects brands, retailers and consumers. We distribute digital coupons and media through a variety of products, including: digital printable coupons, digital paperless coupons, coupon codes, and card linked offers. We operate Retailer iQ, a mobile-first, real-time digital coupon platform that connects directly into a retailer's point-of-sale system and provides targeting and analytics for manufacturers and retailers. We also power digital coupon initiatives in online marketing campaigns -- including display and video advertising. Our distribution network includes our flagship site, Coupons.com, approximately 30,000 third-party publishers, as well as our mobile applications, Coupons.com and Grocery iQ, and those of our many partners. Clients include hundreds of consumer packaged goods companies, such as Clorox, Procter & Gamble, General Mills and Kellogg's, as well as top retailers like Albertsons-Safeway, CVS, Dollar General, Kroger, and Walgreens. Founded in 1998, Quotient is based in Mountain View, Calif., and is bringing the multi-billion dollar offline promotions industry into the digital world. Investors interested in learning more about the company can visit http://quotient.com and follow us on Twitter at @couponsinc.
SOURCE Quotient Technology Inc.