Facebook Acquires Tagtile, A Mobile Loyalty Reward Startup

Tagtile is a rather innovative startup that aims to connect the users of mobile devices to physical stores. It provides loyalty rewards as well as mobile marketing. Facebook has now acquired the startup and the entire team of Tagtile, which comprises of two persons, will be moving over to Facebook. How Facebook intends to use the startup, however, is unclear as of now.

Tagtile actually asks the users, who want to make use of it, to first download the Tagtile app on their iOS or Android device. These apps are then used to send these users targeted marketing material which they can get from the stores they frequent. It’s a very innovative venture in that at one side, users voluntarily opt for such marketing which is beneficial for them and get rewarded for it in return; and on the other side, mobile marketing companies are able to find the right audience.

Now, the founders of Tagtile, Abheek Anand and Soham Mazumdar have made the following announcement,

‘We started Tagtile with a simple goal − to help local business owners build better relationships with their best customers. 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, 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.

We want to thank every business owner who used Tagtile and every user who downloaded the app. We’re excited by what lies ahead for us with Facebook, and are sure you will like what you see next.’

So far it is unclear as to how Facebook intends to use the startup for its own ends. However, the statement from the social network does sound jovial, ‘We’re happy to confirm that TagTile’s founders are joining Facebook, and that Facebook is acquiring substantially all of the company’s assets. We’ve admired the engineering team’s efforts for some time now and we’re excited to have them join Facebook.’ Naturally, we know that mere admiration would not be the end of Facebook’s intents in acquiring Tagtile.

Image courtesy Crunchbase

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Salman Latif is a software engineer with a specific interest in social media, big data and real-world solutions using the two.Other than that, he is a bit of a gypsy. He also writes in his own blog. You can find him on Google+ and Twitter .

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