GoDaddy Acquires Locu For Around $70 Million
GoDaddy has acquired a startup called Locu for around $70 million in cash and stock, according to AllThingsD. Locu is a company that helps small businesses gain more visibility on the web. Locus works with over 30,000 businesses, including restaurants, salons, spas, accountants, etc. Locus has built profiles for over 1 million businesses in the U.S. Locu charges around $25 per month for their distribution services.
Locu has partnerships in place with YP.com, Foursquare, Yelp.com, TripAdvisor, and Facebook. Locu raised a total of about $4.6 million in venture capital funding from General Catalyst, Lowercase Capital, Lightbank, and SV Angel.
“We had a great integration partnership and felt GoDaddy could accelerate Locu’s growth. We have a concept of digital identity for small businesses that allows them to keep control of their information on the Web,” stated Locu co-founder and chief executive officer.