Dive Brief:
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Chicago-based loyalty app developer Tastebud has bought gaming and analytics company SocialCrunch, also based in Chicago, in an all-stock deal.
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Tastebud builds mobile-based loyalty programs for retailers and malls, including gaming-based data collection. SocialCrunch is known for its “gamified big data” approach, according to TechCrunch.
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Tastebud's loyalty programs mostly focused on malls; in one project at a Nebraska mall, its time-sensitive coupons had a conversion rate of 35%.
Dive Insight:
The new company formed by these two Chicago startups has a lot of work to do, first to integrate its apps into malls and second to attract new investments. But its focus is on a quickly expanding aspect of retail — personalized marketing through mobile. And while there’s plenty of press about the decline of the mall, many are doing fine and are in need of the kind of tech upgrade offered by Tastebud.