Last night we broke the news that location-based mobile social network Loopt had acquired GraffitiGeo, a fellow Y Combinator-backed startup that launched only a few months ago. Neither company was willing to comment on the acqusition last night, but earlier today they finally confirmed it and opened up to share some of the logic behind the deal.
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… → Read More
One of the big problems with starting a new service that relies on user submitted data is getting people to actually use it — nobody is going to routinely boot up your app if they don’t have an incentive to do so. One way to tackle this problem is by working the service into a game, which is a technique that seems to be working quite well for Foursquare, a service that makes it easy to find… → Read More