ShopFully and Tiendeo, two of Europe’s most innovative technology companies in the Drive to Store sector, have today announced a transaction that has created a new, leading international player to further reinvent local shopping.
ShopFully has acquired 100% of Tiendeo — a Spanish company specialising in the digitisation of catalogues and brochures — to create a combined group with teams in 12 countries, a network of 45 million active users, and over 400 partners among the major retailers and best-known brands globally.
Under the oversight of ShopFully CEO and Founder Stefano Portu, the Italian-headquartered group will provide the market with best-in-class technology and products, via an innovative technology platform at the service of more customers in Europe and worldwide.
Since its foundation in 2012, ShopFully has demonstrated a dynamic expansion strategy to strengthen its Drive to Store leadership and connect millions of consumers worldwide with the stores around them, which has included the successful 2020 integration of PromoQui and VolantinoFacile in Italy.
Stefano Portu, CEO and Founder of ShopFully, said: “On the back of supportive market trends and a differentiated offering, ShopFully has seen healthy, profitable growth in recent years, both organically and through selected acquisitions. Our mission is to connect more and more consumers in Europe and throughout the world with their local shops through our proprietary technology. Through the acquisition of Tiendeo, we accelerate our journey with the objective of creating even greater value for users and partners.”
“On the back of supportive market trends and a differentiated offering, ShopFully has seen healthy profitable growth in recent years, both organically and through selected acquisitions. Our mission is to connect more and more consumers in Europe and throughout the world with their local shops through our proprietary technology. Through the acquisition of Tiendeo, we accelerate our journey with the objective of creating even greater value for consumers and partners.” – comments Stefano Portu, CEO and Founder of ShopFully.
The acquisition will see Tiendeo’s founders Eva Martín, Jonathan Lemberger and Maria Martín step into senior leadership roles within ShopFully, joining a growing team of over 370 professionals from almost 30 different nationalities.
“We are delighted to join the ShopFully group, which is establishing itself as the Drive to Store leader in Europe,” said Eva Martín, Co-Founder of Tiendeo. “Joining forces will allow us to create new synergies between our businesses, pooling resources and know-how to develop increasingly innovative solutions for the markets in which we operate.”
ShopFully’s ambition to scale-up its platform and accelerate its expansion aligns with the profound transformation of shopping and retail. While 80% of sales take place in stores and 70% of retail growth in the next few years is expected to come from physical retail, 75% of European consumers decide what products to purchase through digital channels.
The acquisition will further ShopFully’s mission to fill the gap between digital decisions and local in-store purchases, allowing consumers to save time and money, while helping retailers and brands boost store traffic by capturing online demand. The goal is to move away from legacy marketing techniques mainly based on paper, which represent a €12.6 billion spend annually in Europe only, to a digital model, leading to a significant economic advantages and a positive impact on the environment.
Global law firm Orrick advised ShopFully in the acquisition, working in coordination with Davide D’Alena, VP International at ShopFully, and Maria Foti, CFO of ShopFully.