Shopper network startup Bolt closed a deal to acquire embedded commerce platform Tipser for undisclosed terms. The acquisition, Bolt’s first, will drive both firms’ shared goal of facilitating immediate checkout at the point of discovery.
“Tipser and Bolt share the same goal of enabling checkout to take place anywhere. Our acquisition of Tipser couldn’t be more synergistic for the future of remote checkout,” Ryan Breslow, founder and CEO of Bolt, said in a press release on Monday (Nov. 29).
He added that Tipser already has already been successful in enabling shoppers to “directly check out through inspirational content.” Together, the two companies can unleash the “power of shopper identities to check out everywhere.”
Some 84% of shoppers explore at least one social media channel before making a purchasing decision, according to data from Pew Research Center. More than half of shoppers that are socially engaged have initiated a purchase via a social media channel, according to data from Inmar Intelligence.
The creator community is a $104 billion market, per CB Insights. Improved monetization solutions are needed in order to further boost growth. And although social commerce is still developing, adoption has been enthusiastic, and tools that make checkout easier are needed.
For 10 years, Tipser has worked on its embedded commerce technology to enable shoppers to buy “natively on any surface” — digital publication, marketplace, price comparison site, social media or search.
Bolt will build on Tipser’s technology and take advantage of its “turn-key publisher marketplaces, touchless merchant integrations, and headless implementation capabilities to enhance Bolt’s Remote Checkout solution,” according to the press release.
Tipser’s technology and Bolt SSO Commerce will power Remote Checkout to give publishers “who struggle to build direct relationships with their consumers” access to Bolt’s one-click account creation and network of shoppers.