Home > techcrunch > Go2 Media Assets Acquired By Poynt For $450,000 (After Raising $3 Million)

Go2 Media Assets Acquired By Poynt For $450,000 (After Raising $3 Million)

February 3rd, 2011 02:47 admin Leave a comment Go to comments

Mobile search company Poynt has acquired the local advertising publishing platform assets of Go2 Media.

The latter raised $3 million back in July 2009, and lists General Catalyst, Borealis Venture Partners, Lighthouse Capital Partners and Hancock Technology Partners as investors.

Jeff Bussgang, General Partner at Flybridge Capital Partners, is also listed as a director of the company.

Poynt says it acquired all source code, related documentation and all of Go2′s transferable publisher and advertiser agreements related to the monetization or distribution of location advertising, for a purchase price of only $450,000.

It’s an unceremonious exit for Go2 Media, which was led by Dan Smith, former SVP of Product and Operations for 80108 Media, a local SMS business that merged with Go2 in 2007.

Poynt points out that the company’s ad publishing operations are producing revenue, however, and says it aims to leverage its position in the local advertising space to accelerate the revenue growth.

The business line will be led by Matt Kojalo, who Poynt recently hired as VP of Global Advertising Solutions.

Says Andrew Osis, chief executive of Poynt:

“This transaction provides us the opportunity to expand our business from an app with publishing capabilities into an ad publishing platform with the ability to publish to multiple mobile applications. This clear and direct route into ad publishing provides yet another revenue stream for the company.”

Source: Go2 Media Assets Acquired By Poynt For $450,000 (After Raising $3 Million)

Related Articles:

  1. Local Mobile Ad Network xAD Buys Mobile Search And Ad Assets Of Go2 Media
  2. Mobile Ad Network Millennial Media Raises $27.5 Million; Tripled Revenue In 2010
  3. Primedia Acquired By TPG Capital For $525 Million
  4. Yellow Media Sells Vertical Media Publishing Subsidiary For $745 Million In Cash
  5. Celtra Raises $5 Million For Rich Media Mobile Ad Technology
blog comments powered by Disqus