SPINS acquires majority of MyReceipts

New SPINS subsidiary Third Solutions LLC is wholly focused on defining the future of the digital receipt platform.

This is the era of digital—and the movement toward electronic alternatives is growing. SPINS, the leading information provider for the natural, organic and specialty products industry, has acquired majority interest in Third Solutions Inc., developer and owner of MyReceipts®, and created a new SPINS subsidiary called Third Solutions LLC wholly focused on defining the future of the digital receipt platform.

MyReceipts is the leading multimerchant digital receipts platform that is currently live in a number of U.S. retail stores and chains and is rapidly growing. The solution aggregates receipts from participating merchants and presents them to consumers via the MyReceipts online and mobile applications while eliminating the need to print and store paper receipts. MyReceipts also provides a vast opportunity for retailers to understand their customers and marketers to gain insights into shopping behavior and product preferences.

Third Solutions and particularly its founder and CEO, Birame Sock, have received widespread media attention over the past several years. For her work at Third Solutions and as technical architect and visionary behind the MyReceipts platform, Sock has received the 2010 North American Cartier Women’s Initiative Award and was featured or quoted in several articles including in the New York Times, the Miami Herald, and Forbes. Since its inception and given its unique innovative approach, MyReceipts has gained great interest from retailers and consumers around the world.

Sock will continue in the role of president and chief technology officer of Third Solution LLC, reporting to SPINS CEO Tony Olson. “We are excited to welcome Birame and her forward-thinking team at Third Solutions to our own,” says Olson. “As a passionate supporter of retailers in the natural and specialty products space, the digital receipt platform aligns perfectly with our mission to drive value for retailers who participate with SPINS. Our new venture with Third Solutions will anchor our growing base of digital services and our investment in innovative solutions to benefit our retail partners.”

For SPINS retail partners, the service facilitates more personalized and effective communication with customers, helps stores reduce operating costs of receipt production, leverages consumer data and improves marketing efficiency—all while continuing to protect the privacy of their shoppers.

SPINS manufacturer clients will be able to access real-time information on consumer behavior relating to their brands and can create targeted marketing campaigns for their products. What’s more, they can send coupons, promotions and messages directly to consumers through the myreceipts.com website.

Consumers access their receipts anytime in a secure online environment, track their spending, learn more about the products they buy, and receive special offers online, by email, or text message while maintaining privacy—all for free.

“Our platform is a smart, effective way to create valuable conversations between retailers, manufacturers and their customers—it’s a win-win-win situation,” says Birame Sock. “Together with SPINS’ expertise in the natural and specialty marketplace, it will facilitate a better understanding of the needs of the consumers in this space—and bring them solutions and resources to engage them and drive loyalty at retail.”

MyReceipts will undergo further development over the next several months in conjunction with SPINS and plans to launch new features and services this summer. For more information, please contact your SPINS representative.


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