We are pretty excited here at the ShopSavvy offices that Milo.com was acquired by eBay for $75MM. Milo.com allows a user to search for a product and find out which local retailers carry the product, which have it in stock and how much they are selling it for. It is like ShopSavvy without the mobile app. Our PriceNark system serves as the backend of ShopSavvy and works in much the same way:

- Consuming direct feeds from retailers that include price and inventory
- Consuming indirect feeds from third parties
- Scraping the web + shopping cart insertion to determine price and local availability

For approximately $85MM eBay was able to buy RedLaser and Milo.com, which combined are basically the same as ShopSavvy. From a comparable valuation perspective we are pretty happy with the numbers, but we are also concerned. The eBay folks are tough competitors and unlike the RedLaser purchase where eBay decided not to hire the team – the Milo.com deal includes a very sharp group of co-founders. Congratulations to Jack Abraham and Aydin Senkut – you guys deserve a big round of applause.

What does this mean for ShopSavvy? It means we are going to continue to work hard to a) make our app more engaging for users and b) make sure we have the best set of local inventory and price data possible. We are still very hungry.