Back to top

Analyst Blog

Zacks Equity Research

JPMorgan to Buy Bloomspot

JPM COF

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

In an effort to diversify its revenue streams, Chase Bank USA, NA – a subsidiary of JPMorgan Chase & Co. (JPM - Analyst Report) – announced the signing of a deal, under which it will acquire Bloomspot, Inc. Bloomspot is an online daily coupon site, which offers discounts to lavish spas, high-end restaurants and weekend destinations in the U.S. and international markets.

The acquisition is expected to be completed in early 2013. The terms of the deal are undisclosed; however, according to market rumors, Chase Bank will pay $35 million. Almost all the employees of Bloomspot – approximately 100 – will be added to JPMorgan on the completion of the acquisition.
 
Chase Bank is working to develop a strong level of relationship with their clients. It aims to bring customers and merchants together by helping the former redeem discounts and offers from the latter. Further, Bloomspot’s innovative business model is anticipated to support Chase's efforts.
 
Bloomspot’s core business model focuses on building a long-term relationship between merchants and customers. Further, Bloomspot believes that the association with Chase Bank will provide the prospect to combine its path-breaking technology with the acquiring company’s expertise.
 
Earlier in December, Capital One Digital Labs – a wing of Capital One Financial Corp. (COF - Analyst Report) – purchased nearly all the assets of the New York-based data aggregator, Bundle Corp. Capital One stated that it is planning to utilize the data available from spending and local directory data of Bundle Corp to provide its own clientele a range of new data-driven products.
 
JPMorgan retains a Zacks #3 Rank, which translates into a short-term Hold rating. Capital One also retains a Zacks #3 Rank.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%