PDI Acquires Fuel Savings App GasBuddy
ATLANTA - PDI, a global provider of leading enterprise management software for the convenience retail and petroleum wholesale industries, has acquired GasBuddy, a mobile app used by drivers to find and share real-time fuel prices. With this acquisition, PDI extends its capabilities in direct-to-consumer delivery of promotional offers and communications, and engagement of consumers in convenience store and petroleum loyalty rewards programs.
GasBuddy has five million active mobile users, representing billions of fuel gallons and hundreds of millions of dollars of convenience retail spend. The GasBuddy app currently generates fuel pricing information on 150,000 stations across North America. While most of its peer-to-peer interactions are from users searching and posting local gas prices, the app also enables reviews of facilities and supports wayfinding.
PDI intends to enhance GasBuddy’s current offering, extending the ability of convenience retailers to attract new consumers to shop at their stores, receive offers funded by CPGs, and enroll in the retailer’s loyalty program. Additionally, PDI will enable retailers to extend personalized fuel pricing offers in real time to consumers who are on-site or driving nearby. Retailers will also have an opportunity to promote in-store products.
“By enriching the crowd-sourced gas pricing information and the related conversations that consumers are having,” stated Brandon Logsdon, president and general manager for Marketing Cloud Solutions at PDI, “we can help retailers drive greater sales and loyalty precisely when and where consumers are ready to buy. This will enhance the experience and utility of the app for its millions of users.”
GasBuddy CEO Sarah McCrary added, “GasBuddy has built an amazing and engaged community. With PDI resources behind them, our users will get even more benefits from the app moving forward. This is a big win for everyone.”
In addition to the promotional capabilities PDI intends to extend, the company will also enhance GasBuddy Business Pages, which enables listing services and reputation management. Business Pages will be integrated with existing PDI products and services to provide convenience retailers with more holistic visibility into consumer sentiment, while providing compelling insights about store visits, purchase behavior, and business performance.
Berenson & Company and Moelis & Company served as exclusive financial advisors to PDI and GasBuddy respectively in connection with the transaction.