ShopRunner has acquired Spring, a mobile shopping destination designed to enable customers to shop directly from more than 2,000 brands in a single-cart experience. Terms of the deal have not been disclosed.
ShopRunner teams with mid- to high-end retailers to offer its paying members free two-day shipping and free returns on their sites, taking a small cut of each purchase.
“We have committed to catalyze a cross-retailer ecosystem to provide better shopping experiences for customers and provide retailers with opportunities to aggregate scale, acquire and retain customers, and otherwise grow their businesses,” said Sam Yagan, CEO of ShopRunner in a statement. “Spring expands both the retailer and member sides of our network and brings on board a team with unparalleled expertise in building innovative mobile commerce experiences.”
ShopRunner also recently secured a $40 million investment round from August Capital, according to TechCrunch. The e-Commerce company, which has raised a total of $140 million since it was founded in 2009, plans to use the funds for product development, data science and acquire more companies.
ShopRunner will take on 30 of Spring’s approximately 90 employees. The two are similar companies and there wasn’t a need for Spring’s entire team, according to Yagan. Spring’s remaining employees are joining real estate tech startup Compass as part of a separate transaction, Spring CEO Alan Tisch confirmed to TechCrunch.