February 22nd, 2012 | Add a Comment
Leading social commerce company, Groupon, has announced its acquisition of Kima Labs, the startup company that produced the Barcode Hero mobile barcode reader app, as well as the TapBuy mobile payment solution.
The details of the financial terms relating to this purchase have not yet been released, however, it was confirmed by Kima Labs on the website for Barcode Hero. This was the app that allowed iOS devices by Apple to share their product recommendations through the use of a scanned barcode. It has now already been discontinued due to the deal, and consumers have been given a deadline of March 16, by which they will have had to download their data.
Co-founder of Kima Labs, Blake Scholl, explained that TapBuy, which processes credit card transactions for the daily deals it supplies its users, will also be shut down, though the date by which its operation will be ceased has yet to be revealed.
This is the second mobile-themed acquisition that has been made by Groupon within the last week alone. Hyperpublic was also acquired by Groupon. It was a geo-location service provider that had been optimized so that it could be integrated into other apps. The details of that deal’s financial terms have also not been released. What is known, is that on March 2, Hyperpublic will be closing its Deals & Events and Places+ on API.
Groupon has been a public company since November 2011, when it raised $700 million within its first public offering, achieving a $12.7 billion company valuation.
For more mobile commerce news headlines.
- Financial world gives the nod to the potential of mobile payment
- American Express announces intentions to put $100 million toward the Serve digital payment system
- PayPal and Fandango work together for a new enhanced experience for moviegoers
- Mobile Money Network announces its mobile checkout, Simply Tap
- SK Telecom develops new way to make every mobile device NFC capable
Written by Lisa Green
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