WalmartLabs, Walmart's (NYSE: WMT) Silicon Valley-based research and design group, has acquired PunchTab in order to better connect with Sam's Club customers.
This is not the first start-up acquisition by the technology-focused division of the big-box retailer. This is WalmartLabs' 15th tech acquisition since forming in 2011, and the most recent acquisition is Luvocracy, TechCrunch reported. About one year ago, the group acquired Stylr, a mobile app that allows shoppers to find apparel items in nearby stores.
Terms of the deal have not yet been revealed, but the goal is to use the technology to better connect with and engage shoppers at Sam's Club. This includes better offerings in savings, merchandise and services. PunchTab will focus on improving the way members are targeted with offers from both the physical and digital store.
PunchTab was founded in 2011 and is run by Hightail founders Ranjith Kumaran and Mehdi Ait Oufkir. Following the deal, six members of PunchTabl's team, including Oufkir, will join the customer acquisition team at WalmartLabs.
-See this TechCrunch article
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