Go Daddy Acquires Locu for $70M

Street Fight Magazine recently reported, "On August 19, 2013, Go Daddy announced its agreement to acquire Locu, a San Francisco-based startup that helps local merchants efficiently disseminate information about their business online. Although financial terms were not officially disclosed, AllThingsD reports Go Daddy paid $70mm in cash and stock. Locu helps more than 30,000 local businesses – including restaurants, spas, salons, photographers, accountants and home-remodeling companies – manage listing data regarding their businesses on search engines and local review sites. The company has built profiles for more than one million businesses across the U.S. by sending contractors to input menu or service information into a semantic analysis platform. As these local businesses find their Locu page on search results, they have the ability to claim and expand their profile."

The article continues, "Locu data reaches more than 200mm consumers per month via partnerships with Yelp, YP.com, Foursquare, TripAdvisor, Facebook, CitySearch and OpenTable. Locu allows local businesses to manage their identity and business information (menus, products, prices, events, photos) across multiple important on-line and mobile sites via a single interface. Although Locu originally focused on helping restaurants, a third of new Locu sign-ups come from businesses that are not restaurants, such as spas, dentists and other professional and personal care services."

Read more here.

Image: Courtesy Locu