Clutch gave $5.3M in stock toward ProfitPoint acquisition - Technical.ly Philly

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Oct. 9, 2013 10:30 am

Clutch gave $5.3M in stock toward ProfitPoint acquisition

A recent SEC filing for Clutch, the mobile shopping app based in Ambler, Pa., revealed more details about the company's August acquisition of Delaware County-based ProfitPoint.

A recent SEC filing for Clutch, the mobile shopping app based in Ambler, Pa., revealed more details about the company’s August acquisition of Delaware County-based ProfitPoint.

The filing, which states that Clutch raised a total of nearly $10.5 million, shows that Clutch provided $5.3 million in stock to ProfitPoint investors as part of the acquisition, a spokeswoman confirmed. We last reported that the company had raised $5 million in a round led by Safeguard Scientifics this August.

Find an array of coverage of the ProfitPoint exit here.

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Christopher Wink

Christopher Wink is a cofounder and Editorial Director of Technical.ly, the local technology news network. In that capacity, he is a co-organizer of Philly Tech Week, Baltimore Innovation Week, Delaware Innovation Week and other events that bring smart people together. Previously, Wink worked for a homeless advocacy nonprofit and was a freelance reporter for a variety of publications. He writes regularly about news innovation and best business practices on his personal blog here and curates a personal monthly newsletter of ideas and links here. The bicycle commuter loves cities, urban politics and squabbling about neighborhood boundaries.

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