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Social shopping site Swipely takes on Blippy

11 May 2010  |  5655 views  |  0 credit card

Swipely, an online service that lets users share information about their card purchases, has launched in private beta after raising $7.5 million in series a funding.

Like Blippy, Swipely lets users link credit and debit cards to an account and then publish related information online for friends to view.

However, unlike its rival, the site does not identify how much is spent, concentrating on what purchases are made and where. Users can then rate their 'swipes' and add comments or photos before posting the information.

Many swipes are geo-located automatically to specific store locations. Swipely also supports product details by integrating catalogsue and menus from more than 250,000 retail and restaurant locations.

The firm says this will encourage users to "start conversations" around specific outfits, meals, songs, movies, gadgets and millions of other products.

With security concerns surrounding social shopping prominent following Blippy's recent mishap - in which some user credit card numbers turned up on Google - Swipely says it has employed bank-grade encryption and has been certified by firms like TRUSTe, VeriSign, and McAfee.

Swipely from Swipely on Vimeo.

Swipely was founded by Netscape veteran Angus Davis and has secured money from Index Ventures, First Round Capital, Greylock Partners in the financing round. High profile angel investors like Ron Conway and former Google executive Chris Sacca also contributed.

Index Ventures' Danny Rimer joins the Swipely board and LinkedIn co-founder Reid Hoffman of Greylock Partners will serve as an observer on the board.

Says Davis: "Our mission is to fundamentally change the way consumers shop and share by adding value to every swipe. Our service will transform everyday purchases at restaurants, movies or online retailers into conversations with friends, personalized recommendations and opportunities to save money."

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