Groupon Inc. has acquired Hyperpublic Inc., snapping up the two-year-old location-based technology start-up amid a growth spurt at the daily deals service. The New York-based start-up provides data technology to websites that enable users to post their locations such as restaurants and bars online, and search for other things nearby. Hyperpublic will now not provide technology to sites outside of Groupon.
Chicago-based Groupon has become the established leader in the daily deals market, with a business model that involves serving up daily coupons to users, and then splitting the resulting proceeds with merchants. Groupon has been focused on developing the mobile aspect of its business as a means to further expand, which Hyperpublic could contribute to with its expertise in local data. Groupon went public in November in a $700 million IPO. The company recently posted a fourth-quarter loss, even as revenue more than doubled to $506.5 million.
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