JiWire acquires mobile shopping app startup NearbyNow

Location-based mobile media firm JiWire has acquired NearbyNow, which develops mobile shopping applications for brands including Nike, Levi's, Estee Lauder, Hearst, Macy's and Nordstrom. Financial terms of the deal were not disclosed. NearbyNow solutions enable brands to show mobile subscribers current product catalogs, identifying items in stock at nearby retailers and offering in-store pickup options; the platform tracks both online and brick-and-mortar sales, promising brands a turnkey solution to attract, measure and advertise to on-the-go shoppers--NearbyNow reports ad click-though rates topping 20 percent and conversion-to-purchase average rates of 5.8 percent.

The JiWire platform enables advertisers to identify and deliver ads to audience segments based on a consumer's physical whereabouts, taking into account contextual influences like the venue type and brand. According to JiWire, the NearbyNow acquisition boosts the expansion of its location-based media channel, adding retail and mobile merchandising expertise; the company now gives advertiser partners like Buick, Hyatt Place, Jeep, Microsoft and Virgin America access to over 35 million unique users per month.

For more:
- read this release

Related articles:
NearbyNow rings up $11.75 million in Series C
IDC: Mobile shoppers to account for 28 percent of holiday spending