We got a tip last week about Peppercoin ceasing operations, but couldn’t get a response from anyone within the company: now we find out why some people might have thought so. The micropayments firm, based in Boston, has been bought out by Chockstone, a provider of stored value loyalty services to merchants. Financial terms of the deal were not disclosed.
Chockstone’s services are used by brands such as Subway and Ticketmaster in the restaurant, retail, and convenience store markets to increase consumer loyalty and drive profitability.
Peppercoin, started by Ronald Rivest, a founder of RSA Security in 2002, initially focused on selling its service to content providers, but much like others in the sector (Yaga, BitPass and others), it didn’t work as online ad market came back and content companies moved away from most content-charging plans. Peppercoin changed its strategy many times, with the end focus being on financial services industry. It had raised at least $15.75 million in three rounds.
Details in release.
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