Groupon acquires location-based firm Hyperpublic

MarketWatch Feb 18, 2012 Back to press

By John Letzing

SAN FRANCISCO (MarketWatch) -- Groupon Inc. /quotes/zigman/7212269/quotes/nls/grpn GRPN +1.14% has acquired Hyperpublic Inc., snapping up the two-year-old location-based technology start-up amid a growth spurt at the daily deals service.

"We are so proud to announce that Hyperpublic has been acquired by the rocket ship that is Groupon," New York-based Hyperpublic said in a statement posted to its website.

Terms were not disclosed.

A Groupon spokeswoman didn't immediately respond to a request for comment.

Hyperpublic has developed a service that enables users to upload locations they visit such as restaurants and bars to its site, and then search for nearby places.

Groupon's business model involves serving up daily coupons to users, and then splitting the resulting proceeds with merchants.

Press Source