In its second-largest acquisition, Amazon buys the company for $970 million.
Mobile app offers daily deals from around the globe.
Everyone is on the lookout for a deal. But what if a consumer is on vacation in London and wants to see deals available there? That can be difficult to do unless he knows of a local deals site. Now Ping4 Inc. says its new Ping4Deals mobile app can help consumers find deals wherever they may be.
“Wherever you are on the globe, it tells you what the local deals are,” says Jim Bender, Ping4 CEO. Currently available only for Apple Inc.’s iPhone and iPod Touch, the free app uses the devices’ global positioning system, or GPS, feature to pinpoint the consumer’s location.
The consumer can select a radius, such as 25 miles, and the types of deals she is interested in, Bender says. The app also taps into the phone’s speaker with a text-to-voice ability, a handy feature for drivers, where the app speaks aloud results it has found, he adds. “This is a way to extend buying behavior beyond the walls of the store,” he says. The app enables retailers to push mobile content, such as text, images, sound files and video, to consumers when they are close to one of their stores. An Android version of the app is in development.
The deals are generated by partnerships Ping4 establishes with retailers. Bender says it is targeting the 100 largest global retailers. They would pay a license fee of $100 per store and have complete control over the deals. Retailers control the deals via a secure online site. Each store could set a unique deal and expiration time, if the retailer chooses, Bender says. Ping4 does not receive any revenue from the deals merchants sell, Bender says. “They don’t want to have to share with anyone,” he says. “They don’t want anyone in their revenue stream.”
Participating Ping4Deals retailers require no hardware, other than a Wi-Fi router to push deals to consumers who are within 300 feet of a store, Bender says. Ping4Deals relies on wireless telecommunication airwaves to send deals to app users who are farther away.