North Carolina based Omminni appears to be readying itself to expand into local markets and the cryptocurrency space. Today, the company announced its acquisition of social gifting service GiftCaddies and detailed its plans to expand into the local merchant sector. The deal is believed to be in the 3-4 million dollar range. This is the largest acquisition for Omminni and proves they are being as aggressive as they promised their investors they would be.
This purchase marks a major expansion for Omminni, which recently launched a cryptocurrency called the OBXcoin.
Founded in 2013, the Richmond-based GiftCaddies is live in multiple US cities, many of which fit the Omminni footprint. GiftCaddies customers consist of restaurants, spas, golf courses, and many other types of small businesses and the transition to acceptance of cryptocurrency will be seamless for these merchants.
In a news release, GiftCaddies CEO Charlie Vecchio said: “Omminni’s reach and ability to connect supply and demand at scale make it the perfect destination for GiftCaddies and it will be allowed to grow even faster and expand in more targeted local markets.”
For its part, Omminni sees this as an opportunity to better serve its future customers across the US. ”Social gifting represents an untapped opportunity for Omminni in the future and serves as a natural extension of local marketplaces,” Omminni CEO Linwood Mann said in a press release.
If Omminni can use this deal to break the down walls and storm this cryptocurrency market, it has enormous potential to be a major player in the space.
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