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Dealipedia - Groupon Inc acquires UpTake

Groupon Inc acquires UpTake

Deal Participants:
Acquiring Company: Groupon Inc View Profile Charts Homepage
Target Company: UpTake View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Feb 28, 2012

PRESS RELEASE

Groupon said Tuesday it has acquired the travel research start-up Uptake.

The price of the deal was in the "teens" of millions for Uptake's 20-person Palo Alto, Calif.-based team, according to a source familiar with the deal.

"Groupon has acquired Uptake and we're excited to continue to build the Palo Alto engineering team with an all-star roster of startup founders and experts in the mobile and social space," a spokesperson for Groupon said.

Uptake used personalized social data to help users research destinations through their friend networks. CEO Yen Lee boasted last year of his company's skills in analyzing unstructured data about travel, rather than relying on explicit signals like Foursquare check-ins.

Groupon has its own social travel product, called Groupon Getaways, through a partnership with Expedia.

Groupon has been on a buying spree of late. Other recent acquisitions include Hyperpublic, Kima Labs, Adku, Campfire Labs and Zappedy.

Groupon said it had no immediate plans to shut down Uptake.com, but it will close Uptake's RealTravel site on approximately March 12. Lee will consult to Groupon, while co-founder Gene McKenna will join Groupon along with an unspecified number of members of the Uptake team.

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Feb 29 '12
This version submitted by Anonymous

 

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