Facebook Inc is acquiring the team of developers behind customer-loyalty application Tagtile, adding to its expertise in mobile software.
“We’re happy to confirm that Tagtile’s founders are joining Facebook, and that Facebook is acquiring substantially all of the company’s assets,” Menlo Park, California-based Facebook said in a statement on Saturday. The financial terms of the deal weren’t disclosed.
The world’s largest social-networking service is bolstering its talent pool, preparing to take the company public this year. The Tagtile deal follows Facebook’s $1-billion planned acquisition of mobile photo app Instagram, announced earlier this week.
The co-founders of San Francisco start-up Tagtile, Abheek Anand and Soham Mazumdar, are engineers with experience working at VMware Inc and Google Inc, according to their website.
Facebook on Saturday also announced businesses could send people coupons that consumers then print out or redeem using mobile phones. The company is preparing to raise $5 billion in its initial public offering, which would be the biggest internet initial public offering ever. Facebook would be valued at as much as $100 billion in the stock sale, people familiar with the matter have said. Technology blog TechCrunch previously reported the Tagtile acquisition.
