Groupon acquires location-based technology start-up Hyperpublic
18 February 2012
Groupon Inc, the world's largest online daily deals company, has acquired location-based technology start-up Hyperpublic Inc, for an undisclosed sum.
The two-year-old New York-based start-up provides data technology to websites that lets users search for nearby restaurants and bars online, and post their locations online.
Hyperpublic has raised $1.15 million from Lerer Ventures and Softbank Capital among other investors.
Hyperpublic co-founder and CEO Jordan Cooper said that some of the company's 10 employees will move on to Groupon, and that he would work in Groupon in some capacity, but also continue with his other job as a general partner at Lerer Ventures.
This is the first acquisition made by Groupon since it went public in November 2011 in a $700-million IPO (See: Groupon raises $700 mn; valuation rises to $12.7-bn).
Following the acquisition, Hyperpublic will not provide technology to sites outside of Groupon, Cooper said in a statement on the company website.