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Kashless, Inc. Acquires Extensive Group Purchasing Patents from Vulcan Capital; Unveils New Local Collective Buying Service Tippr.com.


Kashless, Inc. announced the acquisition of an extensive portfolio of group purchasing patents powering Tippr.com, a new local collective buying service being rolled out in Seattle today. The patents, acquired from Vulcan Capital for an undisclosed sum, represent the strongest IP in group buying, and allow Tippr to offer unique and valuable merchant and consumer shopping experiences including accelerating deals and the guaranteed lowest prices in group buying.
"Vulcan was an early believer in group buying technology, first developed by Mercata in the 90s, and we're excited to help Kashless apply this technology to the modern e-commerce market to execute on this large market opportunity," said Steve Hall, Managing Director at Vulcan Capital.
Tippr leverages collective buying power to fulfill consumers' daily cravings for the guaranteed best deals on goods, services, and events, while supporting local businesses and communities. Unlike other collective buying sites such as Groupon and LivingSocial, Tippr is the only site to offer our patented accelerating deals, which means the deal gets better as more buyers opt in. Tippr is also the first collective buying site to offer a comprehensive price guarantee on all deals. Tippr will also offer multiple merchant deals a day, as opposed to the one daily deal offered by similar sites. Tippr, LLC is wholly-owned by Kashless, Inc. and backed by RRE Ventures, as well as a world-class management team led by Kashless CEO and venture capitalist Martin Tobias.
"We're excited to support Kashless and Tippr as we expand our local marketplace solutions and introduce an e-commerce platform backed by the strongest IP on record in group purchasing," said Stuart Ellman, Co-Founder & Managing Partner of RRE Ventures.
Tippr.com officially launched the site and a major advertising campaign in Seattle today, with plans to expand into new cities and partner with additional merchants and publishers in the months to come.
Keywords: Advertising, Finance, Internet, Investing, Investment, Kashless Inc., Online Retail, Retail, Technology, Venture Capital
This article was prepared by Journal of Technology editors from staff and other reports.

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