JiWire Buys Location-Based Shopping Mobile Company NearbyNow

Mobile advertising company JiWire has announced that they have acquired location-based mobile shopping company NearbyNow. The financial details were undisclosed.

NearbyNow lets brands showcase products and confirm availability in actual stores. NearbyNow has reported that their ad click-through rates are over 20% and conversion-to-purchase average rates are about 5.8%. NearbyNow raised about $20 million in venture funding from DFJ and other investors.

[TechCrunch]

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