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MINNEAPOLIS -- Grocery Shopping Network (GSN), a provider of proprietary software to grocery store retailers, said yesterday it was expanding its Web-based program to all Pathmark and Giant-Carlisle stores. With those additions, GSN-supported Web sites will serve over 1,000 stores across the country, with the potential of reaching more than 10 million consumers/households.
GSN software supports grocers' Web sites, allowing them to provide their customers with innovative, online time- and money-saving features such as the ability to view circular ads and in-store promotions; build, print, and save grocery lists; retrieve and print manufacturer and store coupons; and browse more than 64,000 recipes and 160 cooking videos.
"Grocery Shopping Network is simplifying the shopping experience for customers and transforming the way grocery retailers and consumer packaged goods companies interact with their customers," said GSN c.e.o. Tom Wilkolak in a statement.
As a way to fund the expansion and develop new services and applications, VantagePoint Venture Partners has provided $7 million in equity financing. Additionally, Vantagepoint managing director David Carlick has joined GSN's board of directors.
Chicago-based investment banking firm Houlihan Smith & Company served as financial adviser to the transaction.
GSN has already successfully rolled out its program with such regional retailers as Save Mart, Ukrop's, Festival Foods, and Dick's Fresh Markets.