Today, social TV loyalty service Viggle has announced a merger with popular TV check-in app GetGlue. According to a release, Viggle will acquire GetGlue for $25 million in cash and 48.3 million shares of stock.
With the merger, GetGlue will fold into the Viggle tent. GetGlue CEO Alex Iskold will take on a "senior executive" position within Viggle's management team and Viggle will absorb all of GetGlue's 34 employees.
It's clear that with this merger, the two are looking to create a social TV supergroup, if you will:
"With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers,” Sillerman said. “We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader.”
GetGlue has been around for almost five years, and has grown to over 3 million users. The GetGlue app allows users to check-in to their favorite TV shows, movies, music events, and more. Users are rewarded for their actions with special badges and rewards.
Viggle is a much younger company, having only launched in January of 2012. Viggle awards loyalty points for users' social interactions with TV shows, and those points can be used for real-life rewards from companies like Amazon, Best Buy, and Fandango.
"Both companies are passionate about building great products that help connect users, networks and brands on the second screen. And lastly, our offices in NYC are just two blocks of each other - so the combination also makes sense from a real-estate perspective too. What can you expect from the two companies right now and in the future? Whether you are one of our users or partners in coming weeks it will be business as usual. (Don’t worry stickers are not going away!). Please continue to use and enjoy our products as you have been.
In the mean time, we will be getting the teams together over the holidays so be sure - to expect great second screen products from us in 2013," said Iskold in a GetGlue blog post.