Online Publisher Purch Acquires ShopSavvy
Purch was formerly known as TechMediaNetwork and operates sites including Tom’s Guide and AnandTech. The company recently raised a $135 million funding round, and has been actively buying up companies — this is its fourth acquisition in the past year.
CEO Greg Mason said the theme across Purch’s properties is helping people find the product they need, and then driving an actual purchase. The ShopSavvy app seems like a good fit for that vision.
Mason said that it will continue to operate as a standalone service while Purch also brings ShopSavvy price- and deal-comparison features to its other sites — something that could happen “as early as Q1” next year.
“Across our current portfolio, there’s not a lot that we do in terms of price or deals or special offers,” he said. “It’s more about, ‘What’s the best product for my particular needs?’ and not necessarily about, ‘Where do I get the most value or best price?’ … ShopSavvy has a lot of the raw material that we need to create a well-informed user experience.”
The financial terms of the deal were not disclosed. Mason said the ShopSavvy team will be joining Purch, and its offices will become the San Francisco branch for New York City-headquartered Purch.
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