Internet giant Google has acquired Dublin-based e-commerce firm Pointy for a reported sum of $160m.
The company was established in Dublin by Mark Cummins and Charles Bibby in 2014.
Pointy’s technology enables retailers to make their stock visible online without the need to invest in a full e-commerce system.
“From small beginnings, we’re very proud to serve local retailers in almost every city and every town in the US and throughout Ireland”
The app directs shoppers to where particular items they are interested in are available locally.
Pointy’s technology – a small box that connects to a shop’s barcode scanner – enables ordinary retailers to compete directly against e-commerce giants like Amazon and eBay.
It is the second company that Cummins has sold to Google, having sold Plink to the online giant in 2010.
Investors in Pointy include Microsoft co-founder Paul Allen’s Vulcan Capital, WordPress co-founder Matt Mullenweg, Google Maos co-founder Lars Rasmussen, Bebo co-founder Michael Birch, TransferWise co-founder Taavet Hinrikus and Irish rugby star Jamie Heaslip.
Pointy directs to a digital retail revolution
“The last six years have been an incredible adventure, and today marks the start of a new chapter,” said Cummins and Bibby in a blog post. “From small beginnings, we’re very proud to serve local retailers in almost every city and every town in the US and throughout Ireland. Many incredibly talented people have joined our team, we’ve received the backing of an amazing group of investors, and formed some fantastic partnerships. It is a great pleasure to work on something that helps local businesses in towns and cities everywhere.
“Over the past several years we’ve developed a very close partnership with Google. It became clear that we shared the same vision of how technology can improve local retail businesses. So today is a natural next step in our journey. By joining forces, we will be able to help people discover local stores and products on a much larger scale. We think this is the right way to accomplish what we set out to do – to bring the world’s retailers online and give them the tools they need to thrive.
“When we started Pointy, our mission was to make things better for local retailers. That remains our mission today. All of our services continue to operate as usual. We look forward to building even better services in the future, with the backing of Google’s resources and reach.
“Today is a big step forward for Pointy, but there is still a very long way to go. We’re as excited about the future as when we first started,” Cummins and Bibby said.
Written by John Kennedy (john.kennedy3@boi.com)
Published: 15 January, 2020
