Serial Entrepreneur & GetTaxi Co-Founder’s ‘Loyalize’ Acquired for $5M

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Loyalize, a social TV audience platform, has been been acquired by Function(X) for $5M in cash and stock. The company intends to integrate Loyalize into Viggle, a television loyalty product designed for iOS devices.

Loyalize was founded by serial-entrepreneur Shahar Smirin whose current flagship project is GetTaxi, which former TechCrunch Editor Sarah Lacy called ‘Way Beyond Uber‘.

Smirin, along with his GetTaxi co-founder, Roi More, are also the founding duo of Vigoda.ru, a major daily deal site in Russia and the Ukraine with expected revenues for 2012 in the range of $200-250M.

Loyalize’s white-label platform allowed audiences using mobile devices and connected TVs to engage with TV shows, sporting events, and political debates by way of games, polls, discussion and sharing. Viewers were awarded badges and loyalty points, redeemable for real rewards.

The company’s customer roster included Yahoo and Viacom/MTV. Its platform was also utilized in this year’s Superbowl & Grammy Awards.

Smirin believes Loyalize has found a perfect home as in his eyes FunctionX’s strategy is to establish itself as a key social TV player. Worthy to note that FunctionX which has a market cap of nearly $1B was founded by Bob Sillerman, owner of, wait for it—American Idol.