A new chapter of growth has just been scripted in the location-based services industry.
You see, Vancouver-based Loop Insights has just finalized its acquisition of intellectual property assets of Locally – a global location data intelligence company with tier-1 clients.
Location-based services utilize real-time geo-data from smartphones to provide information, entertainment, and security, to name a few examples. Some services now allow for consumers and travelers alike to check in to hotels, airports, restaurants, coffee shops, stores, concerts and other places or events. At the same time, businesses are able to offer rewards, coupons, prizes, and discounts to people checking in. Yelp, Facebook, Google Maps, tvtag (formerly GetGlue), and Foursquare are just a handful of the popular services.
Location-based services is a $28.85-billion industry, according to Allied Market Research in its 2019 annual industry growth and forecasts report.
Locally has been a frontrunner in the human movement intelligence data and has positioned itself to better enable businesses in an array of industries connect their physical and digital databases through mobile location insights and marketing integration capabilities. Locally has helped big-name brands, like Wyndham Resorts, BMW, Ford, Calvin Klein, 7-11 and many more, access deep consumer behavioral insights across all of their marketing activation channels.
So, what does the acquisition mean for Loop Insights? Well, it’s all very simple: It will allow Loop to incorporate Locally’s location-based data and engagement capabilities, providing Loop with growth opportunities with brands and retailers who are looking to capitalize on the increasing use and benefits of location-based services.
Loop Insights are the innovators of Wallet Pass technology that is beyond impressive. It creates a direct communication channel between brands and consumers. Thanks to Loop Insights and Wallet Pass, users receive real-time communications from sponsors, brands, merchants, and retailers.
But wait, the news only gets bigger and better. Their innovative technology is transforming a number of industries with its venue and travel bubble solutions in live environments, helping businesses, organizations, and governments alike to identify, assess, and manage people who have been exposed to COVID-19. Loop’s contact tracing platform is a safe and fully managed solution for travelers and large entities. Wallet Pass offers an integrated and verified COVID-19 Testing and Vaccination Certification.
Loop’s launch on the market couldn’t have come at a better time, especially since their technology will play a key role in rebooting the economy and its hardest-hit sectors, like travel, tourism, and hospitality.
“I am so impressed with Loop’s innovation and ambition and their technology will only help kickstart everything when our world gets back to normal – in fact, they are the ones who will help get us to that ‘new normal,’” explains Lorraine Simpson, the popular Cityline TV Travel Expert and Travel Personality.
Using Wallet Pass, wearables, or physical cards, consumers simply tap to check in and securely share their information. Even better, users will get automated notifications in the event they are potentially exposed to another user who has contracted the coronavirus.
“Loop’s tech will play a massive role for businesses and organizations as it can track testing, venue bubbles, and vaccinations, and it allows them to send personalized promotions to users’ mobile phones, which is all just awesome news for the travel and tourism industry,” says Simpson. “Loop has created a direct communication channel between a business or organization and consumers through Wallet Pass and does everything needed for tracking tests, venue bubbles, vaccinations and marketing campaigns.”
Simpson adds, “This technology will help give everyone the confidence we need as we move from shutdowns to a ‘new normal.’ Travel and tourism has taken a huge hit, and Loop’s Wallet Pass technology works. It is an innovative solution for contact tracing, travel bubbles, and vaccination data, and what I really like too with all this is that it opens up an effective communication system that helps keep travelers, consumers, businesses and organizations safer.”
Loop Insights CEO Rob Anson is excited with his company’s growth and their launch into the location-based services venture.
“The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences,” Anson explains. “The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location. With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”
Loop Insights has partnered with some big players since launching their tech on the market. They include NCAA College Basketball; The University of Houston; Your CBD Locations – USA; Vend; Shopify; Empower Clinics; Paiute Las Vegas Championship, a Korn Ferry Tour Event; SimpliFlying; and they are now active and growing in the Casino, Gaming, Events/Stadium, Hospitality, Retail, Film and Entertainment, and Education Industries.
“So much has changed since the pandemic shut our world down almost a year ago,” adds Simpson. “So much more will change for the better however with Loop’s Wallet Pass – it will help keep us safer and will ensure everything is in check on all fronts.”
