Motorola, Inc. announced its investment in Scanbuy, Inc., which just happens to be a top contributor in mobile barcode solutions. While Motorola is the primary investor in the project, they are accompanied by Masthead Venture Partners as well as various other smaller private investors. The financial specifications have yet to be disclosed.
The “ScanLife” platform from Scanbuy simplifies the process of getting digital information from businesses to consumers by way of smart phones and bar codes. Through ScanLife businesses can place 1D and 2D barcodes on the products packaging, or any other form of advertising medium. With the use of their ScanLife enabled web phones, customers can easily access the barcode and in order to gather information including product reviews, discount coupons, comparison pricing and so on. With a simple click they can upload videos, pictures and other information to popular social networking sites like Facebook and Twitter. By placing barcodes on the signs of local businesses they open up the possibility of providing customers with detailed directions and product listings with just a few clicks on a screen. The ScanLife Code Management Platform, which is designed for the average business owner, enables the user to follow and study all pertinent data, including the locations at which their product is scanned the most often. This is beneficial to a growing business because it tells you where your customer base is so you can concentrate advertising needs appropriately. ScanLife is already being used by thousands of people across the globe on devices, which use key operating systems like Android, BlackBerry, iPhone and Symbian, this helps to extend the power and reach of these products.
Reese Schroeder, managing director of Motorola Ventures says that they have taken a very careful look at this niche and have come to the conclusion that Scanbuy possesses the best possible combination of significant ecosystem partners and technology in its field.
Reese adds that mobile barcodes have emerged as an increasingly powerful product line for both businesses as well as customers. For this reason combining their technology with Microsoft is an exciting opportunity indeed. Jonathan Bulkeley, Chief Executive Officer of Scanbuy, talks about how they have spent recent years forming various partnerships with the top dogs in wireless technology in an effort to establish a firm foundation for the launching of mobile bar code technology. He adds that Scanbuy is delighted to have a big player like Motorola investing, especially at this crucial stage of Scanbuy’s development. He believes that their undoubted experience and resources will work towards a total acceptance of this technology in the near future.
