Google acquires Cambridge startup Incentive Targeting for retail coupon tech
Incentive Targeting Inc. had raised $4.4 million and signed customers including Supervalu, Big Y and Giant Eagle to its coupon marketing service for supermarkets.
Now, Google Inc. (Nasdaq: GOOG) has acquired the five-year-old company, according to an announcement on Incentive Targeting's website.
"When we founded Incentive Targeting in 2007, we set out to do for retail couponing what Google had done for online advertising: make it simple, relevant, measurable, and effective. So, it is both humbling and gratifying to be joining the ranks of the company that inspired our initial vision," co-founders Ben Sprecherand Joshua Herzig-Marx wrote in a post to the Incentive Targeting site.
"As part of Google, we will have the resources and expertise to continue the transformation of couponing from a way to give discounts to a way to build business. And, we can now work towards that vision as part of a company that improves the lives of hundreds of millions of people every day," the founders wrote.
They didn't disclose the acquisition price.
Backers of Incentive Targeting had included a syndicate of angel groups - among them River Valley Investors, Walnut Ventures, Hub Angels, North Country Angels, Boston Harbor Angels and Northeast Angels.