Groupon purchases social shopping startup site Mertado.com; Mertado's founders and some of its staff will join Groupon team
Cindy Allen
LOS ANGELES
,
January 24, 2012
(Industry Intelligence)
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Daily deal operator Groupon Inc. has purchased social shopping startup site Mertado.com, Internet Retailer reported Jan. 23.
Mertado’s founders—Rajiv Bhat, Vijay Chittoor and Mehul Shah—will join Groupon team.
The Mertado website will shut down on Feb. 28.
In a blog post, Vikki Chowney, news editor for consulting firm Econsultancy, said that Groupon’s recent talent grabs, which include its purchase of social media technology company Campfire Labs in December, fell like “the slow and steady rise of panic.” She noted that share prices had fallen after Groupon’s IPO in November, perhaps indicating the investors are tired of waiting for Groupon to show a profit.
The primary source of this article is Internet Retailer, Chicago, Illinois, on Jan. 23, 2012.
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