YottaMark has acquired substantially all the assets of ShopWell Solutions, Inc., the personalised food information company. YottaMark will integrate the ShopWell team into its HarvestMark Insights group, and ShopWell’s website and mobile applications will become YottaMark branded properties. The terms of the deal were not disclosed.
The ShopWell app helps people make smart decisions about the food they eat. Personalised results show easy-to-understand food scores and recommend foods based on the shopper’s specific dietary needs. At home or in the store, shoppers simply scan a food’s barcode to get nutrition information and find out if the food is a good match. The recommendation engine technology is powered by patent-pending algorithms designed by Registered Dietitians and statisticians, and draws on guidelines set by the Food and Drug Administration, U.S. Department of Agriculture, the Institute of Medicine, and the latest peer reviewed research.
“This acquisition anchors HarvestMark’s strategy as the leading provider of trusted information about food, and provides a critical channel to reach shoppers across the entire grocery store”, said Elliott Grant , YottaMark’s Founder & CTO. He added, “a producer will now be able to determine which characteristics drive preference and repeat purchase. A retailer will have the ability to rapidly measure how merchandizing, store operations or supply decisions are affecting shopper satisfaction. In today’s highly competitive food market – this edge provided by shopper insights can make the difference between a profitable product and failure.”
USA, Redwood City, CA