SHOPKICK ACQUIRED BY SK PLANET CO. LTD.: Shopkick, which created the shopping app that combines the digital user interface on top of the physical shopping world, has been acquired by SK planet Co. Ltd., which operates cross-channel Web and mobile platforms in South Korea, such as OKcashbag, and T-Stores, for an undisclosed amount.
SKP is affiliated with SK Holdings, a Fortune 100 corporation, and SK Telecom, Korea’s largest mobile carrier. The acquisition will help SKP capture a major component of the U.S. mobile commerce market, as well as the U.S. location-based shopping sector.
Shopkick’s existing management team will continue at the company. Cyriac Roeding, chief executive officer and co-founder of Shopkick, said, “We were at a point where we needed an infusion of resources and reach to keep up with the incredible demand and growth across partner retailers, brands and users. What we got goes well beyond that; we can now drive SK planet’s international leadership forward in the U.S., and SK planet will help us achieve our global visions.”
Jinwoo So, ceo of SKP, said, “The acquisition of shopkick will create the key platform of SK planet’s U.S. mobile commerce business, and also expand our global market position.”