Social media company Yelp has just acquired Toronto based Turnstyle for $20m in cash.
Turnstyle is a company based in Toronto employing over 35 employees. It is a marketing and analytics platform that utilizes public Wi-Fi to attract, retain and reward customers. Turnstyle enables clients to learn actionable insights about on-premise customer behaviour and send real-time messages, coupons and rewards directly to customers’ phones without the use of a mobile application. Turnstyle helps the world’s largest brands monetize their Wi-Fi by enabling location-based marketing and analytics, providing the same tools online retailers have enjoyed for over a decade.
“We’re excited to expand our product offering for local businesses through this acquisition. Turnstyle helps connect businesses to consumers through free public Wi-Fi, and is an effective retention and loyalty program that helps businesses be more successful,”
said Jeremy Stoppelman, Yelp co-founder and chief executive officer.
At Turnstyle, our mission is to help businesses connect with their customers through the power of Wi-Fi, so when we heard the Yelp mission statement, to connect people with great local businesses, we were sold on the opportunity to be a part of that.
Yelp and Turnstyle recognize that there are massive opportunities in helping businesses and their customers connect and we know that there are several synergies to be realized working together. I speak on behalf of the whole Turnstyle team when I say that we can’t wait to start capitalizing on this exciting new relationship.
said CEO - Turnstyle Solutions , Devon Wright