Mashable reports that
Shopular, a new app that attempts to use mobile to drive sales to brick and
mortar retailers has just raised $6.4M in new capital from Sequoia
Capital.
The objective of the app
is to help connect consumers and retailers by alerting users about coupons and
promotions at nearby stores. The app
uses location service features to help advise the customers of what options
surround them based on their user preferences, etc. The company has partnered with all top 150
retailers across more than 40,000 store locations. The founder, Navneet Loiwal, wants to reduce
the friction between retailers and consumers from ‘show-rooming’ and other destructive
retail practices that have companies weary of the value of digital and mobile
platforms.
The tension between online
and brick & mortar has come to a head and the balance between how companies
allocate capital across the platforms will be a critical business development issue
over the coming years. I believe that
digital and brick & mortar will co-exist in some balance and innovative
apps like this can bridge the gap between consumer preferences and retail
choices.
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