News

Shopkick honored as most innovative technology startup

BY CSA STAFF

Palo Alto, Calif. — Shopkick has been named by the World Economic Forum as one of the world’s most innovative technology startups for 2013. Shopkick is one of two mobile companies selected worldwide.

Previously honored companies include Twitter, Dropbox, Wikipedia, Palantir, Bloom Energy and Google.

“These companies are more than pioneering the way we use technology; they are transforming how we as a society are growing and interacting with each other,” said Silvia von Gunten, head of technology pioneers at the World Economic Forum. “They are also providing new opportunities for people to harness the potential of technology.”

In its first full year of operation (2011), Shopkick helped drive more than $110 million in-store revenue for partner retailers and brands. From January through July 2012, shopkick had already driven $100 million in revenue for its dozen retail and more than 50 brand partners — $35 million of that in just June and July. Partners include Target, Macy’s, Old Navy, Crate & Barrel, Best Buy, American Eagle Outfitters, CVS/pharmacy, Simon Property Group, The Sports Authority, Toys“R”Us, west elm, The Wet Seal, Kraft Foods, Procter & Gamble, Disney, Unilever, Intel, HP and more.

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News

Former Procter & Gamble exec named Ralph Lauren CFO

BY CSA STAFF

NEW YORK — Ralph Lauren has named Christopher Peterson as SVP and CFO. Peterson will assume his new role effective Sept. 24, and his areas of responsibility will include the company’s global finance and information technology organizations. He will report to Roger Farah, president and COO.

Peterson has 25 years of broad-based financial and operational experience, primarily in the global consumer products industry. During the last 20 years, Peterson has held several successively senior corporate and operational roles throughout The Procter & Gamble Company, most recently as CFO of its Global Household Care division. Peterson began his career in Smith Barney’s investment banking division and he has a Bachelor of Science degree in Operations Research & Industrial Engineering from Cornell University.

“We are excited to welcome Chris to our senior team,” said Farah. “With 25 years of broad-based, global financial and operational experience with some of the world’s most well-known brands, he has a demonstrated track record of disciplined leadership. He will be a strong partner as we continue to execute our long-term strategic growth objectives.”

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FINANCE

IBM to acquire HR software company Kenexa for $1.3 billion

BY Marianne Wilson

Armonk, N.Y. — IBM has entered into a definitive agreement to acquire Kenexa, a provider of human resources software and consulting services for approximately $1.3 billion in cash.

The acquisition helps make the Armonk, N.Y., company more competitive with database maker Oracle Corp. and German business software maker SAP AG, said Rick Sherlund of Nomura Equity Research, Kenexa’s software is intended to help companies recruit and manage talent through online social networking, collaboration and consulting tools.

IBM said the acquisition will bolster its leadership in helping clients embrace social business capabilities while gaining actionable insights from the enormous streams of information generated from social networks every day.

“Every company, across every business operation, is looking to tap into the power of social networking to transform the way they work, collaborate and out innovate their competitors,” stated Alistair Rennie, general manager of IBM’s social business division. “IBM. is uniquely positioned to help clients generate real returns from their social business investments, while helping them gain intelligence into the data being generated in these networks to be more competitive in their markets.”

Industry analysts said the acquisition helps IBM more competitive with database maker Oracle Corp. and German business software maker SAP AG. Earlier this year, Oracle bought HR software maker Taleo Corp., and last December SAP purchased SuccessFactors Inc.

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