Pricetector, a private Social Loyalty company, has acquired price-alert services business Price Protectr LLC for an undisclosed sum.
“Priceprotectr.com has earned great recognition for having saved consumers millions of dollars through their innovative price-alert services,” said Rob Levy, Pricetector Founder and CEO. “We look forward to incorporating their technology into our Social Loyalty platform. Current and future users can expect major enhancements in the coming months that will make it easier for consumers to save more money in more ways.”
As part of the transition, the Price Protectr team will stay on as strategic consultants as Pricetector makes final its preparations for launch.
“We are thrilled to be working with Pricetector and are looking forward to their launch later this year,” said Price Protectr CEO,James Wallace. “Price Protectr will live on as the foundation for Pricetetor’s Social Loyalty platform.”
“Early in our engagement, they saw our innovative approach to helping people save money,” said Tim Tonella, President of Price Protectr. He continued, “With the additional capital and resources that Pricetector brings, the value of the platform can grow exponentially.”
“Price Protectr has been our pride and joy for a long time,” said Dave Cohen, Price Protectr co-founder and CTO. “We look forward to this next phase being even more successful than the last.”
The acquisition heralds Pricetector’s strategic and aggressive investment in preparation to launch and lead the Social Loyalty revolution. The U.S. retail market is over $1.8 trillion per year. Unveiling later in 2011, Pricetector intends to fundamentally change the relationship between retailers and their customers by creating a platform that rewards both the retailer and the consumer and creates a sustained mutually beneficial relationship.
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