Published: Thu, January 16, 2020
Markets | By Otis Pena

Google Acquires Startup Pointy For $163M To Help Retailers Sell Items Online

Google Acquires Startup Pointy For $163M To Help Retailers Sell Items Online

On 14 January Google published a blog post announcing its acquisition of Pointy, a start-up based in Dublin, Ireland, that lets bricks-and-mortar stores make their products discoverable online. While right now neither party has disclosed the exact finances involved, the rumour mill says the deal could be worth roughly €150 million.

Pointy uses two key technologies to help its partner retailers log their in-store inventory.

To see the new features in action once they go live, users merely need to search for the type of clothing they're interested in, and a new "Popular products' section containing clothing, shoes, and accessories from a variety of retailers will appear alongside other search results".

Created to integrate with the Google "See What's In Store" service, shoppers will no longer arrive in-store only to find a product sold out.

Speaking at the launch of Pointy's partnership with Retail Excellence in 2018, Mark Cummins said that, for many local retailers, keeping up with technological changes can be hard to do, in addition to running a store.

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In 2018, Pointy raised $12 million (€10.2 million) in a Series B funding round. But in the future, Google may start selling ad positions in this new product search experience.

This is the second startup sold to Google by Pointy CEO and serial entrepreneur Mark Cummins. The deal is expected to close in the coming weeks. From a small beginning, we are very proud to serve local retailers in nearly every city and every city in the United States and throughout Ireland.

The acquisition will enable Google to make its search engine more useful for consumers.

The Pointy founders wrote, "By joining forces, we will be able to help people discover local stores and products on a much larger scale". "We think that is the precise technique to enact what we build out to put off out - to bring the field's retail outlets online and offers them the instruments they want to thrive".

The most interesting part of this new update is that Google has taken all the hard work away from off your shoulder by bringing as many products as possible from many stores together.

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