ShopKeep

Last updated
ShopKeep by Lightspeed
Company type Subsidiary
Industry Point of sale
Founded2008;16 years ago (2008)
Founders
  • Jason Richelson
  • David Olk
Headquarters New York City, U.S.
Area served
Key people
Michael DeSimone (CEO)
Number of employees
200+
Parent Lightspeed
Website shopkeep.com

ShopKeep by Lightspeed is a cloud-based iPad point of sale (POS) system headquartered in New York, NY. Founded in 2008, its POS system is used by more than 23,000 small businesses [1] in the United States and Canada, most of which are retail shops, coffee shops, restaurants, and bars. The system allows merchants to ring up sales, print or email receipts, pop a cash drawer, accept credit cards and print remotely to the kitchen right from an iPad or Android tablet. The web-based BackOffice allows inventory, employee, and customer management, and analytics and reporting. The smartphone dashboard app allows merchants to view real-time store sales remotely.

Contents

History

ShopKeep was co-founded by Jason Richelson, [2] co-founder of several retail stores in Brooklyn and New York City, and Amy Bennett [3] out of their wine store in Brooklyn in the fall of 2008 after their point of sale software crashed for the last time. David Olk, [4] [5] [6] [7] [8] former Director of M&A at IAC, joined as the third co-founder and COO in July 2011 to help Jason and Amy execute on their vision and raise outside capital, eventually closing the company's first external raise 6 months later in December 2011. [9] [10] [11] When Jason's point of sale system in his stores broke down, he decided that there had to be a simpler, smarter solution for small businesses. He developed ShopKeep POS as a cloud-based point of sale system to allow a merchants to access data even when they are not in the store. [12] He also developed it from the eyes of a retailer and used his expertise[ citation needed ] to create a user interface that is intuitive to the merchants and the cashiers that stand behind the counter. Jason hired Bill Walton as the original system architect and engineer to build the ShopKeep Platform in October 2008.

In August 2011, the first iPad version of ShopKeep was released in the App Store. As of July 2015, ShopKeep has raised over $97 million in funding. [13]

On 5 November 2020, Lightspeed announced it has entered into a definitive agreement to acquire ShopKeep Inc for $440 million. [14] On 25 November 2020, Lightspeed announced closing the acquisition of ShopKeep. [15]

See also

Related Research Articles

<span class="mw-page-title-main">Cash register</span> Mechanical or electronic device for registering and calculating transactions at a point of sale

A cash register, sometimes called a till,cashbucker, or automated money handling system, is a mechanical or electronic device for registering and calculating transactions at a point of sale. It is usually attached to a drawer for storing cash and other valuables. A modern cash register is usually attached to a printer that can print out receipts for record-keeping purposes.

<span class="mw-page-title-main">Debit card</span> Card used for financial transactions, usually without a credit line

A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either the front or the back. Many of the new cards now have a chip on them, which allows people to use their card by touch (contactless), or by inserting the card and keying in a PIN as with swiping the magnetic stripe. These are similar to a credit card, but unlike a credit card, the money for the purchase must be in the cardholder's bank account at the time of the purchase and is immediately transferred directly from that account to the merchant's account to pay for the purchase.

<span class="mw-page-title-main">Point of sale</span> Time and place where a retail transaction is completed

The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically.

First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provides nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and at online outlets for nearly a third of all U.S. debit cards.

<span class="mw-page-title-main">NETS (company)</span> Singaporean electronic payment service provider

Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services, including payments, marketing, shipping and customer engagement tools.

Upserve, originally Swipely, provides a restaurant management platform which allows independent full-service restaurants to run and manage their entire business. The Platform is made up of restaurant-specific point of sale (POS) software, payments, and analytics, online ordering, loyalty, and marketing tools designed specifically for restaurants. At the center of the Upserve Platform is the cloud-based Upserve POS, a point of sale system that Upserve acquired from Groupon in 2016.

<span class="mw-page-title-main">Revel Systems</span>

Revel Systems is an iPad-based point of sale system co-founded by Lisa Falzone and Christopher Ciabarra. It is now majority owned by private equity firm Welsh, Carson, Anderson & Stowe.

Pennies is a registered charity in the United Kingdom and Republic of Ireland. Its purpose is to encourage and facilitate charitable giving, and to raise funds for a variety of UK registered charities through micro-donations made by customers at the point of sale.

<span class="mw-page-title-main">Vend (software)</span> Financial services & Retail management company

Vend is cloud-based point-of-sale and retail management software company, based in Auckland, New Zealand. The company was founded in 2010 by Vaughan Rowsell. It was acquired by the Australian software company Kounta.

Warby Parker Inc. is an American retailer of prescription glasses, contact lenses, and sunglasses, based in New York City. Founded in 2010, it was initially an online only retailer. It now sells primarily through more than 200 physical retail store locations across the U.S. and Canada.

<span class="mw-page-title-main">GoPago</span>

GoPago was a cloud-based mobile payment platform with an integrated point of sale system, based in Pasadena, CA. GoPago's payment platform allows customers to purchase orders in advance of arriving at brick-and-mortar merchants and merchants to manage orders in real-time. In August 2012, GoPago released GoPago LIVE, an application-based tablet point of sale system, which are free to merchants. GoPago's mobile payments platform is cloud-based, which allows transactions processing without near-field communications or QR-code technologies. On December 11, 2013, Amazon reached an agreement with GoPago to buy a license to its technology and hire certain members of its engineering team. On December 20, 2013, mobile commerce company DoubleBeam acquired all of the assets of GoPago, including all customers, systems, products, brand name and IP portfolio. On February 20, 2015, DoubleBeam was acquired by Verifone, Inc, and GoPago was subsequently rebranded as Verifone Cloud POS.

I Love Velvet is a global provider of hardware and software for mobile point of sale (mPOS) transactions and value-added retail services. I Love Velvet manufactures and sells merchant-operated, consumer-facing and self-service mPOS systems to the entertainment, retail, hospitality, and automotive industries.

<span class="mw-page-title-main">Bindo</span> Retail technology company

Bindo is a retail technology company, headquartered in New York, NY with APAC headquarters in Hong Kong. Its core product is a cloud-based point of sale system that enables online shopping for the end consumer. Bindo's hyperlocal marketplace allows merchants to run their stores and merchandise online and connect them with consumers in their neighborhood. Bindo creates a real-time product graph that connects brands, consumers, and merchants.

Lightspeed Commerce is a point-of-sale and e-commerce software provider based in Montreal, Quebec, Canada. It was founded in 2005 by Dax da Silva, who served as the CEO of the company until February 2, 2022. It has offices in Montreal, New York, Ottawa, Toronto, London, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. It offers its services to retail, restaurant, and hospitality businesses.

<span class="mw-page-title-main">Kounta (software company)</span> Australian software company

Kounta is an Australian software company founded in 2012. The company's flagship product, Kounta, comprises a cloud based point of sale mobile app.

<span class="mw-page-title-main">Raise.com</span>

Raise.com is an e-commerce platform owned and operated by Raise that enables third-party individuals to sell Gift Cards on a fixed-price online marketplace alongside Raise's regular offerings. The company is based in Chicago, Illinois, and was launched in 2013 by founder George Bousis, who still remains the Executive Chairman today alongside CEO Jay Klauminzer.

<span class="mw-page-title-main">Affirm Holdings</span> U.S. financial services company

Affirm Holdings, Inc. is an American public company founded in 2012 and run by PayPal co-founder Max Levchin. It is a fintech company with a buy now, pay later service for online and in-store shopping. Affirm leads the U.S. buy now, pay later sector, and reports 17.6 million consumers and 279,000 merchants as of 2023.

talech American cloud-based software company

talech is an American cloud-based software company based in Palo Alto, California. The company makes software that is at the centre of point of sale systems for restaurants, bars, retail outlets and professional services. The software runs on the iOS and Android operating systems and functions on iPads and a variety of Android hardware devices.

National Retail Solutions is a point-of-sale company. The company is the provider of touch-screen point-of-sale (POS) systems that offers a customer-facing screen as well as payment and transaction processing services. NRS is a division of IDT Corporation and the company's headquarters are in Newark, New Jersey. The company also provides an NRS Pay credit card processing for various independent stores.

References

  1. ↑ "ShopKeep Announces $60 Million Series D Round Funding". 29 July 2015.
  2. ↑ "How to Identify a Business Opportunity". 23 February 2012.
  3. ↑ "On 'cloud' nine! Greene Grape owners lead way in web-based shopkeeping technology". The Brooklyn Paper. Retrieved 2017-03-17.
  4. ↑ "When does a start-up stop being a start-up?". 15 August 2014. Retrieved 2016-08-23.
  5. ↑ "ShopKeep Rings Up $60 Million Investment - Finovate". 2015-07-30. Retrieved 2016-08-23.
  6. ↑ "Case Study: The Benefits of Running a POS System in the Cloud". Street Fight. 2012-05-24. Retrieved 2016-08-23.
  7. ↑ "Cloud Computing Revolutionizes the Customer-Retailer Transaction". 2012-04-24. Retrieved 2016-08-23.
  8. ↑ "ShopKeep.com Raises $2.2M in Series A Round, Plans New Hires | Xconomy". 2012-01-17. Retrieved 2016-08-23.
  9. ↑ "ShopKeep Raises $60M - [Jcount.com]". 2015-07-29. Retrieved 2016-08-23.
  10. ↑ "Cloud Computing Revolutionizes the Customer-Retailer Transaction". 2012-04-24. Retrieved 2016-08-23.
  11. ↑ "ShopKeep Rings Up $60 Million Investment - Finovate". 2015-07-30. Retrieved 2016-08-23.
  12. ↑ "Archived copy". Archived from the original on 2014-03-01. Retrieved 2012-11-30.{{cite web}}: CS1 maint: archived copy as title (link)
  13. ↑ "ShopKeep Focuses on Growth with $60 Million in Series D Funding". 28 July 2015.
  14. ↑ Gagliordi, Natalie (5 November 2020). "Lightspeed to acquire point of sale rival ShopKeep for $440 million". ZDNet .
  15. ↑ Simpson, Meagan (5 November 2020). "Lightspeed to acquire ShopKeep for $440 million USD, reports strong Q2 results". betakit.com.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.