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Mobile Social Network Wars: Loopt Acquires GraffitiGEO

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Loopt, the New Enterprise Associates and Sequoia-backed mobile social network, has acquired a relative newcomer to the scene – Y Combinator startup GraffitiGEO. Multiple sources have confirmed the acquisition, although neither company is commenting.

GraffitiGEO, which launched just a couple of months ago, combines mobile social networking with reviews and games. It’s somewhat similar to the surging foursquare, which has stolen some of the oxygen from the first generation mobile social networks like Loopt.

GraffitiGEO is also preparing to launch an augmented reality application that we previewed in August and that we suspect will launch shortly. Both GraffitiGEO apps fill holes in Loopt’s product lineup, so the acquisition makes a lot of sense. Here’s the video of the application that we included in that post:

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