Facebook has made another acquisition this week. They have acquired mobile loyalty platform Tagtile.
The financial details of this deal have not been revealed though it is clear that it would be fraction of what they paid for Instagram earlier this month.
Tagtile spoke about the acquisition:
We started Tagtile with a simple goal − to help local business owners build better relationships with their best customers. We’ve been thrilled to see the enthusiastic response from both businesses and their customers, and even more pleased to watch those stronger relationships we envisioned start to develop.
Today, we are happy to announce that we are joining Facebook, and that they are acquiring substantially all of our assets. It’s a huge opportunity for us to take our goal – helping businesses grow – and do it on a much, much bigger scale than we could have on our own.
We won’t be taking on any new customers as of today, but the service will continue to work as is for now. We’ll be reaching out to customers directly once future plans are set, but Tagtile as it exists today won’t be part of what we do at Facebook.
We want to thank every business owner who used Tagtile and every user who downloaded the app. We’re excited by what lies ahead for us with Facebook, and are sure you will like what you see next.