The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Dealmap crawls more than 450 sites in search of online discounts.
Google Inc. has acquired local and daily deal aggregator The Dealmap. The companies did not disclose the purchase price.
The Dealmap says it crawls more than 450 sites to present discounted offers to some 2 million users via the web, mobile devices, social networks and e-mail. The company says 85 million monthly visitors see its deal offers through its partner networks; The Dealmap says it works with more than 50 commercial distribution partners, and has at least 150 affiliate agreements.
“We believe Google provides the ideal platform to help us accelerate our growth and fulfill our mission,” according to a blog post from The Dealmap. “We’re passionate about helping people save money while having great local experiences, and in Google we’ve found the perfect partner that shares this passion, as well as our vision and strategy.”
The Dealmap says that, for the time being, consumers can still access local and daily deals through The Dealmap web site, mobile apps and newsletter. It will also continue to support The Dealmap application programming interface, which developers have used to create mobile apps such as Android Deals, which presents deals from The Dealmap on Android devices.
The acquisition marks the latest move by Google to gain market share in the growing deals space. Earlier this year Google launched Google Offers, which enables consumers to receive e-mails offering discounts on food, entertainment and retail goods. Near the end of 2010, the search giant reportedly made an offer to acquire Groupon Inc. that was worth as much as $6 billion, according to widespread published reports.
"We are impressed with what The Dealmap team has accomplished and excited to welcome them to Google,” says a Google spokesman. “We’ve been thrilled with the early success of our commerce offerings and we think they can help us build even better products and services for consumers and merchants.”
Google declined to comment on what specific products The Dealmap team will work on.