Groupon Acquires Social Shopper – Mertado.com

Groupon adds to its collection

Just this past Friday, Groupon added to its collection of startups by acquiring the social shopping company – Mertado.com. The Silicon Valley based Mertado lets consumers find and buy products through social networks, including Facebook.

The founders of Mertado, Mehul Shah, Rajiv Bhat and Vijay Chittoor will join Groupon. The startup says in its blog that it will shut the service down on February 28, 2012 and that existing customers will have customer service access until then.

From the Mertado blog:

“Our mission at Mertado has always been to expose a selection of high quality, unique, lifestyle-oriented products to consumers wherever they spend their time. Working toward this goal, we have strived to create shopping experiences that build bridges between content, commerce & community.

Today, we’re pleased to announce that we are continuing this journey by becoming a part of the Groupon family. Groupon has been a pioneer in social commerce in many ways, and when we started talking with them, it became extremely clear that they shared the same set of values as us.”

Groupon Goods

This acquisition came soon after Groupon launched a new business called Groupon Goods. Groupon Goods features really good deals on great products. To get airspace on Groupon Goods, a product has to be cool enough to share and innovative enough to inspire. It also must be made of reliably bonded molecules or stardust. Honestly, if we think a product is remarkable and we can offer a good deal on it, we’ll do so. Those items include products such as speakers, cameras, and earrings.

“Groupon has been a pioneer in social commerce in many ways, and when we started talking with them, it became extremely clear that they shared the same set of values as us,” Mertado said in a statement on its website. Furthermore, “If you enjoyed shopping on Mertado, we think you’ll love the great local experiences and goods that Groupon offers. Groupon’s subscription is opt-in, and you can register at www.groupon.com/goods.”

Although a purchase price wasn’t disclosed, Prior to its acquisition, Mertado had raised $2.3 million in funding from Rustic Canyon Partners, Blumberg Capital, Redpoint Ventures and Y Combinator. According to a Groupon spokeswoman, “Mertado has shown a great level of innovation in the social commerce space — for example, the launch of Mertado TV, combining lifestyle video content and product selection. We’re looking forward to leveraging the team’s expertise.”

 About Mertado.com:

Mertado is a social shopping company that lets consumers discover and buy new products within the online communities that they frequent. Mertado mirrors the real world shopping experience by enabling users to discover unique products that meet their lifestyle needs, and adds a social context around these purchases. Launched in 2010, Mertado is based in Palo Alto, Calif. and is funded by prominent angel and venture investors, including Y Combinator.

Source: Chicago Tribune