Acquired by Google (Nasdaq: GOOG) September 2, 2011
The acquisition of Zave Networks by Google represents a major transaction in the wireless, communications and mobile internet space and we are extremely pleased with this sale. With its innovation and technology that effectively transformed the digital incentive marketplace, Zave represents the kind of game-changing start-up company that OpenAir fosters, builds and invests in. We take great pride in the company’s outstanding accomplishments and congratulate its talented team. We look forward to following the company’s future success as a part of Google.”
Zave Networks offers a revolutionary technology point-of-sale platform that for the first time ever connects digital marketing and advertising with physical in-store sales, delivering on the promise of "clicks to bricks." Zave's unique platform enables marketers, retailers, and product manufacturers to create, distribute, and process digital coupons, promotions, and incentives real-time at the point of sale in a way that's convenient and simple for consumers. Retailers and manufacturers are able to measure, in real-time, the effectiveness of their efforts, including which of their promotions is leading to actual retail sales. Zave Networks is the first solution that closes the redemption loop, allowing for unprecedented marketing insights and optimization.
Founded in 2006, the team at Zave set out to create a new payments system, to automate and digitally transact non-cash currencies such as cpg coupons, promotions, discounts, rebates, loyalty points, and virtual currency. By digitizing the exchange of values between multiple parties to the transaction, the highly-scalable Zave platform provides the benefits of control, security, fraud prevention, reconciliation, redemption, and real time reporting. Further, the Zave platform enables the capture of rich behavioral data that can be analyzed to continuously improve value optimization.
The Zave platform combines sophisticated software that is integrated into retail point-of-sale systems, and cloud based infrastructure that manages all aspects of the digital transaction. Coupon and incentive campaigns can be created and managed; offers can be distributed by unique technology that allows offers to be embedded in any digital media, such as via the Internet or mobile device. Offers can be saved in a unique consumer digital wallet, and redeemed at retail point of sale with any consumer identifier (loyalty card, mobile phone number, credit card, or NFC).