Palo Alto, Calif. startup Shopkick has attracted some high-profile investors, including Kleiner Perkins Caufield & Byers’ iFund and Greylock Partners’ Reid Hoffman, but it has been mysterious about its actual product. That changed today at the San Francisco Best Buy store, where Shopkick founder and chief executive Cyriac Roeding unveiled Shopkick’s app, and he announced a partnership with the popular electronics retailer.

Basically, Shopkick will offer a free iPhone app that rewards users for visiting partner retailers (and other stores as well). When users have the app open on their phones, stores can use Shopkick’s “Signal” technology to know when a user has walked through their doors, allowing shoppers to earn rewards called “kickbucks.”

via mobile.venturebeat.com

Game on. We'll see the floodgates open on this stuff now…