This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Chase To Acquire Innovative Silicon Valley Start-Up Bloomspot, Inc., Expands Capabilities In Merchant Offers

Chase Bank USA, NA, a subsidiary of JPMorgan Chase & Co. (NYSE: JPM) and Bloomspot, Inc. today announced that they have signed an agreement and plan of merger whereby Chase will acquire Bloomspot, a provider of targeted merchant offers.

“Chase has millions of strong relationships with consumers and merchants, and we are committed to building value in those relationships,” said Jeff Kinder, president of Chase Offers. “Merchant partners are continually looking for ways to engage the right customers, and consumers have shown a clear interest in receiving offers from their favorite merchants. We believe Chase has a unique set of assets to bring these customers together and deliver highly targeted, relevant merchant offers at scale.”

“Bloomspot’s team appealed to us because of their focus on building sustainable value for merchants through a strong set of matching and analytics capabilities,” Kinder said. “They have developed innovative tools to close the loop for merchants and reward consumers who engage with these merchants. Their philosophy aligns very much with Chase’s in this space.”

“Creating long-term relationships between merchants and customers has always been at the core of our business,” says Jasper Malcolmson, CEO of Bloomspot. “Bloomspot has succeeded by building a technology platform that delivers the most relevant offers to its members, as well as delivering and measuring customer loyalty for merchants. Together with Chase, we have the opportunity to leverage our technology to realize that success at a much larger scale.”

The acquisition is expected to close in early 2013. Terms have not been disclosed.

About Bloomspot:

Bloomspot ( www.bloomspot.com) is a leading offers provider whose technology platform has addressed key issues in merchant marketing. Bloomspot has created a sustainable model for its merchants by measuring and rewarding consumers’ loyalty. By earning the participation of the best merchants, Bloomspot delivers a superior experience for its members.

About Chase:

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. Chase serves more than 50 million consumers and 4 million small businesses through more than 5,500 bank branches, 17,500 ATMs, credit cards, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships. More information about Chase is available at www.chase.com.



Stock quotes in this article: JPM 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs