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Baxus buys spirits price-tracking app
Online alcohol marketplace Baxus has acquired BoozApp, a US-based mobile application that lets users track fair pricing for bottles of spirits.
BoozApp already lists more than 100,000 users and has data on tens of thousands of unique spirits bottles. The platform calculates fair prices for spirits bottles, while also showing minimum suggested retail price (MSRP), and the average shelf price – which is what a bottle retails at.
Furthermore, through the app, users can keep an eye on the value of their own collections, knowing the individual price per bottle and total worth of the home bar itself.
Tzvi (Todd) Wiesel, co-founder and CEO of Baxus, said: “We have seen a significant increase in the global wines and spirits market, which is now worth over US$800 billion. The Covid pandemic also increased demand on everything from digital platforms like Drizly, to thousands of mom-and-pop liquor stores across the country.
“Together with BoozApp, we are aiming to reach a larger audience: casual drinkers, liquor buyers, collectors with diverse preferences, and industry enthusiasts.’’
Baxus provides its users with a secure way to manage their bottle collections, using blockchain technology to give them ownership proof, authentication and a solution for safe storage.
With the acquisition of BoozApp, Baxus’ users can ‘access further knowledge, ensuring security, and fostering confidence in their wine and spirits collections’.
Richard Morrow, co-founder of BoozApp, added: “After two years of listening to user feedback, distilling market data, and rejecting several funding and acquisition offers, we found the perfect partner in Baxus, a decentralised platform for liquor enthusiasts
“As Todd and I spoke, we realised we had more in common than we thought, like how the market should be controlled by the consumers and how the value of liquor can in fact be quantified.
“Our mission is to empower consumers, improve pricing transparency, and expand globally, reaching new consumers,” he added.
Together, the two platforms will look to make shopping for spirits easier and ensure consumers have the tools to find the best deals.
Financial terms of the deal were not disclosed.
Earlier this year, it was reported that digital alcohol sales would reach US$40 billion by 2026, with whiskey the most popular option.