GoDaddy announced today that it is acquiring San Francisco-based Locu, which provides services for local merchants. According to the company it's used by over 30,000 businesses.
The two companies have actually been working together for several months. GoDaddy integrated Locu into its Website Builder tool when it launched in May. Now they've simply taken things a big step forward.
“Locu epitomizes what GoDaddy is all about – both companies are hell-bent on helping the ‘little guy’ thrive on the Internet,” said GoDaddy CEO Blake Irving. “Locu is comprised of amazing technologists who have taken the very complex problem of helping small businesses ‘get found’ wherever consumers are looking and are solving it through elegant, technology-based services. We are welcoming some of the brightest technology minds on the planet to our GoDaddy family.”
"We couldn’t think of a more powerful platform to accelerate Locu’s growth,” said Locu CEO Rene Reinsberg. “We each have a core mission to help local businesses succeed. Our team developed deep respect for GoDaddy during our initial partnership and was impressed by the execution speed and quality, its industry-leading customer support, and the passionate, experienced new management team who puts ‘product first.’ All of this further positions GoDaddy as the ‘go-to’ provider in the small business space."
“Over the last few months, Locu has played an incredible role in helping grow the Presence and Commerce business through our Website Builder partnership,” said Raj Mukherjee, GM of Presence and Commerce at GoDaddy. "The Locu team will play a much bigger role in helping GoDaddy’s small businesses reach their customers more effectively and at lower cost."
Locu will remain in San Francisco as well as Cambridge, where it also has an office. All of the companies employees are joining GoDaddy, and they're actually in the process of hiring more.
Terms of the deal were not disclosed, but Kara Swisher at All Things D claims the deal was at about $70 million in cash and stock.