Daily deals giant Groupon acquired two-year-old, New York based company Hyperpublic for a still undisclosed amount in a move to access the latter’s rich, publicly available social data that has to do with how consumers make commercial decisions.
In a note posted on its website, Hyperpublic said, “We set out to change the way people interacted with the local environment, and are pumped to continue that mission as a part of one of the fastest growing and most disruptive companies in the world.”
Hyperpublic products include Places+, Geo Deals and Events, Data On Demand and Hyperpublic Labs. Data from these products are sourced from social media websites used by developers to create applications suited for their needs.
Jordan Cooper, Hyperpublic Co-Founder and CEO, said that most companies nowadays are interested in these types of data that connects people to places. “The better Groupon understands the people and local environment that they are trying to drive traffic to, the better they will do,” he said.
In its two-year stint, Hyperpublic raised $1.15 million in seed funding from investors Lerer Ventures, SoftBank Capital and Hudson River Angels, to name a few.
“This is a huge win for our team, our investors, and everyone who contributed to our company over the past two years,” says Hyperpublic.