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04-15-2012, 09:20 AM #1
Facebook buys app developer Tagtile for an undisclosed amount
After the Instagram acquisition deal, Facebook continues on its buying spree. The world's biggest social network on Friday announced that it has acquired a team of developers behind customer-loyalty application Tagtile.
Tagtile, the start-up, helps merchants court shoppers with rewards for checking in with smartphones during visits.
Confirming this on their website, Tagtile said that Facebook is "acquiring substantially all of our assets."
Facebook's acquisition of Tagtile for an undisclosed sum came on the heels of a billion-dollar deal to acquire the startup behind wildly popular smartphone photo sharing application Instagram.
Tagtile was created by former VMware engineer Abheek Anand and one-time Google engineer Soham Mazumdar. They created a system that lets customers use iPhones or Android-powered smartphones to check in at shops and get rewarded with discounts, coupons or loyalty points.
To check in, customers need only to tap smartphones on small white cubes that swap information with handsets using sensors.
Facebook has been building its mobile services and capabilities that can cater to lifestyles increasingly revolved around smartphones and tablet computers.