For a few weeks, there have been rumors that Google would acquire a discount deal startup named The DealMap.
On Monday, this was confirmed via a post on the Menlo Park startup's blog: "We’re thrilled to announce that The Dealmap has been acquired by Google," began the post at blog.dealmap.com. The announcement goes on to deliver a mission statement and a bit of history about the 15-month old company. Despite entering late into a field seemingly dominated by other local deals/ deal-of-the-day sites, The Dealmap Team proudly claims that the company managed to grow quickly to serve over 2 million users with its website and mobile apps.
"We believe Google provides the ideal platform to help us accelerate our growth and fulfill our mission," the post states. "We believe that joining Google will help us innovate in new and unexplored areas of commerce.
"We've been thrilled with the early success of our commerce offerings, and we think [Dealmap] can help us build even better products and services for consumers and merchants," said Katelin Todhunter-Gerberg, a Google spokesperson. Neither Google nor The Dealmap made any statement concerning the actual financial details of the deal.
The daily deal service has seen a boom recently, with the largely local scope of individual markets fused into a national or even international network. Using a shared interface and brand, and often adding social networking features to the experience, sites such as LivingSocial and Groupon have become a favorite of users and investors alike.
Google attempted to purchase Groupon near the end of 2010 for a reported $6 million, but the deal did not ultimately go through. Groupon instead chose to go public, a process which is currently on track for an IPO in the second half of 2012.
Google chose to develop its own discount deal service, called Offers, which was announced in January and launched at the end of May after a month-long beta period in Portland, Oregon. As of yet, Google Offers only serves Portland, New York City, and the San Fransisco Bay Area, but it is expected that The Dealmap's resources (including over 450 deal sources) will greatly expand that range.
The Dealmap is the latest in the more than 70 companies that Google has acquired over the last two years. As the search giant has expanded to launch projects covering numerous aspects of the online experience, its acquisitions covered a wide range of technologies and skills.
James Lee Phillips is a Senior Writer & Research Analyst for IBG.com. With offices in Dallas, Las Vegas, and New York & London, IBG is quickly becoming the leading expert in Internet Marketing, Local Search, SEO, Website Development and Reputation Management. More information can be found at www.ibg.com. Krittibas-Ray explains asset management! Asset managers study the markets and the companies from which particular stocks and bonds are issued and decide which are best for their clients!