After its much-talked about acquisition of Instagram, Facebook’s recent acquisition is the customer-loyalty application Tagtile.
Tagtile was founded by ex- VMware engineer Abheek Anand and a former Google engineer Soham Mazumdar. The mobile app lets customers use smartphones to connect with local businesses and get discounts, coupons or loyalty point on different products and services.
“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,” the Tagtile team wrote in a blog post.
Tagtile further added that it won’t be taking on any new customers, 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,” the company stated.
The financial details of the deal have not been revealed. The move comes ahead of Facebook ‘s expected IPO, next month.