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Friday, March 09, 2012

Green Dot Acquires Loopt

Loopt was an early LBS provider  (2005 launch, Sam Altman, Founder). Green Dot sells pre-paid debit cards. Green Dot plans to use use Loopt and its patents "to develop mobile wallet and payment services." Green Dot will pay $43.4 million in cash; the deal is expected to close by the first quarter of this year.

It's a tough time to be an LBS only type company as this acquistion, among a string of them of late, suggests.

- GigaOm

- press release

by Adena Schutzberg on 03/09 at 06:21 AM | Comments | Bookmark and Share

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