(3/1/13), One of Horizon’s clients, GasBuddy, along with its sister company OpenStore, was acquired by UCG portfolio company Oil Price Information Service (OPIS).
GasBuddy is the undisputed leader in helping consumers find the best price for gasoline. The company’s mobile applications and websites are used by over 10 million motorists every month. Its proprietary, crowd-sourced data model enlists its millions of users as ‘gas price spotters,’ generating real-time price data on over 100,000 gas stations and convenience stores across the United States and Canada.
Founded and operated by the same management team, OpenStore is the leading digital marketing platform for local gas stations and convenience stores. Its SaaS solution provides website, mobile app, and multi-channel marketing capabilities to a growing base of customers including large chains such as Valero and Marathon.
Together, GasBuddy and OPIS create the most extensive, timely and accurate database of prices at service stations and convenience stores in North America.
This transaction reflects Horizon’s focus on advising emerging growth companies in the mobile apps and SaaS sectors. Please let us know if you’d like to learn more about this transaction and the Horizon process.
You can also learn more in GasBuddy’s and OPIS’ joint press release about the transaction here.
Congrats to Dustin Coupal and Jason Toews, Co-founders of GasBuddy and OpenStore!