Friday afternoon saw Google expanding yet again when it acquired Zave Networks. Zave Networks had this announcement wide and all over its homepage which noted the acquisition. The team of Zave Networks stated on their website, “When we had the opportunity to join Google, we felt it was the perfect fit for our company and the perfect opportunity to rapidly drive the deployment and use of our platform to the next level.” it just shows how happy and excited the team was to join the team of the search engine giant.
For a bit of the background, Zave Networks is a company which was founded in 2006 and since then has been devoting itself to come up with digitizing coupons and loyalty reward programs.
Zave in its announcement had even thanked their consumers, advertisers, retailers and investors for their unending support which had been continuing since the last 5 years. Zave had even always wanted a better platform to showcast their skills which were currently restricted in a way.
The news was first covered by TechCrunch, which was later on reported even by VentureBeat. Both these outlets noted the same response of Google which was quoted by their spokesperson via an email. The response was:
“We’re thrilled to welcome the Zave Networks team to Google. They have developed an impressive platform to connect consumers with coupons, special offers and reward programs for their favorite businesses, and we look forward to their joining our Commerce team.”
Noting the information posted on the Zave Networks website, Zavers, its technology was first implementation had seen early success amongst its first users and all the way in the current year they plan to further expand their base to over 1,500 stores across the country. IBM, the retail point of sale system market leader, was partnered by Zave Networks in January so that they could become an integrated part of IBM’s flagship SurePOS ACE application.
The Company Overview page of Zave Network stated that they have not only built and deployed their system at scale but are even proven for their system. It continued noting that currently they are the one platform which is in a position to deliver rapidly a network which would be ubiquitous enough for the exchange transactions of non-cash value across all major retail verticals.
The acquisition might end as a happy one, but Zave Networks had just two weeks back reported that it had raised $10.6 million and it was out to adopt aggressive growth strategy. But this twist of being acquired by Google would be interesting to see how the plans proceed from now onwards. Again, how would this affect their working in the Kansas City headquarters as they would be working there till further information.
MG Siegler of TechCrunch even wrote that Zave would offer its continuing service to offer them to consumers, retailers, and marketers for now. However, from the prospective of Google, it looks like they would most probably better their Commerce and Wallet products with the help of Zave. Seigler even stated that there was no disclosure for the terms of the deal.
The acquiree and the acquirer had been reached out to, but there was no response which was received of late from both the parties.