Google Acquires Daily Deal Provider (for Less Than Its $6 Billion Groupon Offer, We’ll Bet!)
The Dealmap, a San Francisco-based start-up that aggregates up to 400,000 local and daily deals a day, has been acquired by Google.
We heard that the deal was going down about two weeks ago, but the company is officially confirming it in a blog post today.
The company did not disclose terms of the deal, but we are guessing it’s far less than the $6 billion that Google offered Groupon late last year. That’s just a hunch.
Since it was founded in May 2010, The Dealmap says it has more than two million users of its web, mobile, social and email products and 85 million monthly visitors to its network.
The company was started by Jennifer Dulski, former Yahoo executive, and Chandu Thota, who was previously the lead developer on Microsoft Virtual Earth. The company was backed by a number of investors including Bill Harris of PayPal and Intuit; Sergio Monsalve, a VC at Norwest Venture Capital; Alessandro Biral of Keynote Ventures and Jeff Drazan of Bertram Capital.
In the blog post, it said that it believes Google is the ideal platform to help Dealmap accelerate its growth and fulfill its mission.
Google is famously known for offering Groupon $6 billion and being turned down. Since then, Google has launched its own Offers network, which is the financial backbone of Google Wallet, its mobile payments offering.
“We’re passionate about helping people save money while having great local experiences, and in Google we’ve found the perfect partner that shares this passion, as well as our vision and strategy. We believe that joining Google will help us innovate in new and unexplored areas of commerce,” a Dealmap spokesperson writes.
For the time being, Google says it will support The Dealmap’s partners, which includes Microsoft’s Bing, CityGrid, Local.com, MerchantCircle, MyPoints, Savings.com, SuperMedia, T-Mobile and others.