ShopSavvy has raised $7 million in a Series A investment round led by Facebook co-founder Eduardo Saverin (and other investors). The company managed to avoid taking outside capital for three years after launching the company back in 2008. Until now it has survived on its original Google award money, revenue from early clients such as Visa and funds from our co-founders.
The press release hasn’t hit the wire yet, but you may have read that we raised $7M from Eduardo Saverin (and other investors) in TechCrunch, CNET, AllThingsD or VentureBeat. Interestingly it was actually our Series A – i.e. we had managed to avoid taking outside capital for three years after launching the company back in 2008. Until now we survived on our original Google award money, revenue from early clients like Visa and funds from our co-founders.
Many of you know that we almost sold the business this summer. However, just before we did we met James Bailey and Eduardo Saverin and began talking about what the future of mobile shopping would look like. It was uncanny how similarly we saw the current landscape and the shape it would take in the future. Those conversations helped us realized that we wanted to be in business together. At the end of the day we decided that it would be a LOT cooler to build a billion dollar company with Eduardo.
The investment will be used to double the size of our engineering staff (half should be located in our San Francisco office and the other half in our Dallas office). Additionally, for the first time we will also be hiring a sales organization to help advertisers build amazing campaigns that leverage our unique ad framework.
Looking to change the face of retail? Want to join a fast growing startup with a future? We would love to talk to you. We are hiring developers and designers based in San Francisco (near South Park) and in Dallas. Skill set? iOS, Android, .NET and Photoshop to name a few. Email me at amuse -at- shopsavvy.com and I will pass your resume along to the right person. We would love to hear from you!