Now that we’ve all heard that Instagram’s $500 million valuation drove Facebook CEO Mark Zuckerberg into a frenzy because he had to have Instagram, it’s time to check out Facebook’s other acquisition this week. While Instagram looks like a pretty solid acquisition into the Facebook family, their other acquisition, Tagtile, may fit better with the Facebook business.
Tagtile is a company that allows you to walk into a store, and tap your phone against a special cube. When you do that, your phone shakes hands with the business. The business gives you discounts and special offers and your phone shares the information you allow it to, back to Tagtile, like your contact information, and a little more if you let it.
Business Insider suggests that the Tagtile deal was an acqui-hire. A posting on Tagtile’s website suggests that Tagtile won’t continue the way it has been once they join Facebook. This is similar to the Gowalla deal, not the Instagram deal. Zuckerberg quickly let people know that Instagram would function as is, for now. Gowalla on the other hand officially shut down during SXSW as the founders and team relocated to Palo Alto to work on Team Facebook.
Tagtile hasn’t said how many merchants they have using the Tagtile cube or how many users have downloaded the app however they did say that Tagtile will continue to work the way it has, again for now…