Intuit buys m-commerce start-up AisleBuyer
11 April 2012 | 4723 views | 0
Intuit has acquired Boston-based mobile commerce company AisleBuyer in a deal reported to be worth up to $100 million.
Founded in 2009, AisleBuyer employs 37 people and has raised around $11 million in equity and debt financing, according to local press reports.
Its mShop app lets users scan product barcodes or browse participating retailers' product catalogues to access information, read customer reviews and instantly make purchases in-store without waiting in line at the checkout.
AisleBuyer founder and CEO Andrew Paradis told the Boston Globe that his firm started talking with Intuit in October and began a pilot to explore how they could integrate their technologies at the beginning of the year. Ultimately, rather than just forming a partnership, an acquisition was agreed upon.
In a blog post confirming the acquisition, Paradis says: "By leveraging our technology and talent, together with Intuit's rock star payments team, we will continue to work on creating the best small business POS solutions in the world."