Denver’s own , which connects astute shoppers to cash-back discounts on outdoor goods, is now part of , a New York digital content firm that also owns tech-review sites like Tom’s Hardware.
Purch on Friday said . Whatever that price, it was a portion of Purch’s by a group of investors led by Canso Investment Counsel in Canada. The money was strictly to be used for acquisitions and growth since Purch “does not need the capital to fund operations,” the company said at the time.
Active Junky partnered with more than 200 retailers of outdoor goods, including REI, Sierra Trading Post and The North Face. Shop for items through Active Junky links and users can get some cash back — REI offers 6 percent. The site also aggregates coupon codes for extra discounts.
The news has an interesting Denver twist. The co-founders of Active Junky, which is based in Galvanize’s Golden Triangle location, met with a Galvanize community member Doug Llewellyn back in 2012. Llewellyn joined Purch a year later as its chief operating officer. They kept in touch.
“This is a good story for two awesome entrepreneurs who go to build their company and now are going to join a really good business,” said Chris Onan, a Galvanize co-founder, who also .
Active Junky was also the first Galvanize community member company, with co-founders Kevin McInerney and Danny Efron setting up shop in a temporary office of another Galvanize co-founder Jim Deters. Active Junky, which employs 10 people today, also raised investment funds from Galvanize co-founders.
“We are absolutely pleased with the financial return,” Onan added, but would not offer specific figures.
Galvanize’s investment in Active Junky was made seed investment became official. The portfolio includes .
Purch, meanwhile, plans to take Active Junky’s loyalty and incentives program and roll it out to its other brands, which include , and . That is expected to happen in early 2016.
Purch, which employs 350 people, also said Active Junky will remain in Denver as a stand-alone brand.
