Facebook Acquires Mobile Marketer Tagtile
Facebook is busy shopping ahead of its much-anticipated IPO.
With its latest purchase — San Francisco-based, mobile marketing firm Tagtile — Facebook is clearly aiming to expand its mobile-savvy talent pool.
The company provides mobile apps that allows businesses to market to customers based on their purchasing activity, including the frequency of customer visits at a store.
The amount that Facebook paid for Tagtile is not yet known. But the deal comes on the heels of the $1 billion purchase of Instragram, also a California mobile-device company that is in the business of photo-sharing.
The Instagram purchase made its founders instantly rich and famous. The next soon-to-be stars of Tagtile are its founders Abheek Anand and Soham Mazumdar, who say they are "excited by what lies ahead" with its new owner.
"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 company announced on its website.
The Instagram deal is expected to close before Facebook goes public on the Nasdaq. It is unclear whether the Tagtile purchase will be completed as quickly.
There are two possible dates Facebook may launch its initial public offering, on either May 16 or May 17, and trading would commence the following morning.