News and Announcements
Booodl Closes $2.85m Strategic Investment Round
- Published December 08, 2015 12:25PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
8th December 2015
Booodl, the smart local shopping app, today announced the completion of a $2.85m strategic investment round that was lead by Scentre Group, the owner and operator of Westfield in Australia and New Zealand.
The Booodl app and website uses geolocation and machine learning to help consumers find physical retail stores that sell products they want.
Users of the app can then save these products to a list and receive reminder notifications whenever they’re near a store that sells one, helping to drive more relevant customers in-store.
Consumers can also message stores via the app to confirm details such as price and availability, and pre-purchase products from retailers that have enabled the ‘Pay & Pickup’ feature. This reflects a significant global trend around consumer-to-business messaging and in-message transactions.
There are currently over 15,000 stores across Australia that can be discovered through Booodl. The $2.85m investment will be used to accelerate store growth and user acquisition.
“Our mission is to help all stores get found by shoppers who want their products,” said Booodl Co-Founder and CEO, George Freney.
“To achieve this we’re in the process of building the most comprehensive and intelligent retail store directory out there, down to the category, brand and product level. It’s no small technical feat,” said Freney.
The physical store is the heart of the shopping experience, yet stores still miss crucial opportunities to engage with nearby shoppers, and users waste countless hours trying to find and buy what they’re after. Connecting the two was a logical step for Booodl and one that resonated with Scentre Group.
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