We have just heard word that mobile payments startup AisleBuyer has been acquired by Intuit for a whopping $80-$100 million in a technology fueled buyout. AisleBuyer has raised a total of $11.5 million in funding through a number of financing rounds.
Boston Mass based AisleBuyer was founded in 2009 and provided a smartphone driven self checkout solution that aims to improve in-store shopping experience by eliminating the need to wait in line.
By scanning a product barcode using the app, shoppers can read product details and customer reviews and then make a purchase on the spot – either in-store by skipping the line or online by opting for home delivery. They can also browse a retailer’s entire product catalog from within the app, another new feature.
We were extremely bullish on AisleBuyer early on, but after a series of major partnership delays we became skeptical of their future. Their technology is powerful, and it appears to be what Intuit is after, as it looks like only the engineering team is part of the deal.
I have reached out to AisleBuyer founder Andrew Paradise on the phone who would not comment on the news, but told me to “call him tomorrow or the next day, for some news.”
As soon as we hear more, we will update you!