The newly minted unicorn from Singapore continues to expand its retail portfolio with this latest addition

Singapore-based unicorn Trax has added another retail company to its portfolio with the acquisition of Shopkick, a California-based shopping rewards app. The value spent on the buyout is not disclosed, Bloomberg reported.

Shopkick will continue to operate as an independent unit.

Shopkick allows its users to shop and earn rewards and gift cards by browsing online offers, watching videos, walking into stores or scanning product barcodes on shelves.

Shopkick is owned by SK Telecom Co. after it acquired the company for US$200 million in 2014.

With its approach, Shopkick provides data and insights into customer behaviour and loyalty for clients such as EBay Inc., General Electric Co., Lego, and Unilever in what the company called “bringing together shelf and shopper data.”

“It will deliver new insights to consumer-packaged-goods brands and retailers,” said Trax CEO Joel Bar-El.

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Trax has just finalised an additional US$100 million at a pre-money valuation of about US$1.1 billion, aiming it at financing acquisitions, including Beijing-based computer vision startup LenzTech Co.

Besides that, Trax is reportedly also in talks to buy a European competitor.

Trax has shared that it plans an initial public offering in 18 to 24 months to come as it is in talks with Singapore Exchange Ltd. for a potential dual listing after the local bourse approached the company.

Co-founded in Singapore by Bar-El and partner Dror Feldheim in 2010, Trax currently operates in more than 50 countries and has shareholders such as private equity firm Warburg Pincus, Chinese private equity firm Boyu Capital, and Singapore sovereign wealth fund GIC Pte.

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