Google To Buy Social Payment Provider Jambool
Google (NSDQ: GOOG) is set to make another not-so-small acquisition, this time for virtual currency company Jambool, TechcCrunch reports, citing unidentified sources. The price is estimated to be around $70 million, including earnouts.
If this deal goes through, it would be the search giant’s 19th since August ‘09. Speaking of which, Jambool raised a $5 million funding exactly a year ago. Along with analytics and demand-side platforms, social payment startups are a current favorite among investors and companies like Google which are looking to keep acquiring.
SEE ALSO: Google Buys Slide In Social Networking Push
Jambool’s ‘Social Gold’ platform lets developers create their own white-labeled virtual currency systems. It powers virtual payment systems within big name apps and online games, including Lil’ Green Patch and Mafia Wars.
So far, neither company was available for comment.
All in all, Google has done 23 acquisitions since Jan. ‘09, with the most recent one being another social media play, app maker Slide, which it purchased last week. The acquisition of Slide, and if all goes as expected, Jambool, is all part of Google’s more aggressive focus on social media, and its over-arching goal of learning our social graph to inform and enhance other parts of its business.
Posted In: E-Commerce, Payment Systems, Marketing, Money, M&A & Venture Capital, Mergers & Acquisitions, Social Media, Companies, Google, jambool

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