Facebook purchases Tagtile App
16 April 2012
The world's biggest social network has acquired the team of developers behind customer-loyalty app Tagtile.
In an emailed statement to Bloomberg, Facebook said: "We're happy to confirm that Tagtile's founders are joining Facebook, and that Facebook is acquiring substantially all of the company's assets."
The statement read , "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 a part of what we do at Facebook."
Facebook also made a statement, "We’re happy to confirm that TagTile’s founders are joining Facebook, and that Facebook is acquiring substantially all of the company’s assets. We’ve admired the engineering team’s efforts for some time now and we’re excited to have them join Facebook."
Tagtile is a service which provides merchants with hardware that will work to provide their customers with coupons via a mobile app. Customers can either redeem these coupons directly from their phones or can print out the vouchers to redeem in-store.
Tagtile says that it allows merchants to track their customer base, the frequency of their visits and with the tools that Tagtile provides, merchants can send offers and coupons directly to their customers' mobiles. Tagtile was founded by two engineers who had their roots in India, Abheek Anand and Soham Mazumdar.
The purchase that they've made recently, is of course, Instagram, which they bought for a whopping $1 billion. The difference between the two purchases is quite visible. While Facebook will keep Instagram relatively intact, the services offered by Tagtile will be different once they've made their move.
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