San Francisco: Facebook has confirmed that it is acquiring the team of developers behind customer-loyalty application Tagtile, adding to its expertise in mobile software.
Facebook’s acquisition of Tagtile for an undisclosed sum came on the heels of a billion-dollar deal to acquire the startup behind wildly popular smartphone photo sharing application Instagram.
“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 world’s leading social network said in reply to an AFP inquiry. “We’ve admired the engineering team’s efforts for some time now.”
Tagtile was created by two Indians, former VMware engineer Abheek Anand and one-time Google engineer Soham Mazumdar. The entrepreneurs created a system that lets customers use iPhones or Android-powered smartphones to check in at shops and get rewarded with discounts, coupons or loyalty points.
To check in, customers need only to tap smartphones on small white cubes that swap information with handsets using sensors. “We started Tagtile with a simple goal, to help local business owners build better relationships with their best customers,” the founders said in a post at the company’s website.
“We are happy to announce that we are joining Facebook,” they continued. “It is an opportunity for us to take our goal and do it on a much bigger scale than we could have on our own.”
The company is preparing to raise $5 billion in its initial public offering, which would the biggest internet IPO ever. Facebook will be valued at as much as $100 billion in the stock sale, people familiar with the matter have said.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription