When you’re as big as Facebook, you can easily drop $1 billion on Instagram and still have plenty of cash left over to make additional acquisitions.
This week, news came to light that Facebook has acquired Tagtile, which helps businesses run mobile loyalty programs and deploys customer management solutions.
Although we don’t know what Facebook paid for the company, the team at Tagtile certainly sounds excited.
“We started Tagtile with a simple goal − to help local business owners build better relationships with their best customers,” the company announced on its blog ahead of the weekend. “We’ve been thrilled to see the enthusiastic response from both businesses and their customers, and even more pleased to watch those stronger relationships we envisioned start to develop.”
Today, we are happy to announce that we are joining Facebook, and that they are acquiring substantially all of our assets. It’s a huge opportunity for us to take our goal – helping businesses grow – and do it on a much, much bigger scale than we could have on our own.
“We won’t be taking on any new customers as of today,” Tagtile says. “but the service will continue to work as is for now. We’ll be reaching out to customers directly once future plans are set, but Tagtile as it exists today won’t be part of what we do at Facebook.”
So what will Facebook do with its most recently acquired property? Chances are, the social networking behemoth will use Tagtile to help further engage users and better monetize the company’s burgeoning ad tools and platforms.