Coupon generator Groupon acquires social media apps specialist

CHICAGO, Wed April 18, 2012 – E-commerce coupon company Groupon has acquired, a mobile applications specialist providing social recommendations services. said, without disclosing financial details, that it would terminate its previous services at the end of the month, but did not disclose what its future endeavours would be as part of Groupon. The company will also remove its application from Apple’s and Nokia’s stores.

Ditto’s service, started a year ago, facilitates the discovery through an application for mobile phones of new places such as restaurants and film theaters.

Groupon was established in 2008 and provides a daily offering of deals to its customers. It has approximately 10,000 employees. The company’s headquarters are located in Chicago and has an office Palo Alto, California as well as regional offices in Europe, Latin America, Asia and other territories.

The buyer carried one of the biggest Internet initial public offerings (IPOs) in 2011 which valued the company at $10 billion. Following the revision of its fourth-quarter 2011 results at the end of March this year, the company said that its net loss stood at $65.4 million while its revenue amounted to $492.2 million.