- Facebook completed deal just 2 weeks before IPO.
- Deal came together 1 month after Instagram, reflecting Facebook’s desire to avoid allowing another mobile category-killer to emerge.
- Deal brought Facebook a strong 3-person founding team and expertise in location-based discovery.
Overview
On May 4, 2012, Facebook acquired Glancee, a leading provider of location-based discovery services.
Transaction closed just prior to Facebook IPO, demonstrating Facebook’s commitment to mobile apps.
Significance
Catapult’s role
- Leveraged existing Catapult-Facebook relationship for a high-level intro to key decision makers.
- Facebook was the “dream home” for Glancee founders; maintained competitive pressure in the deal by generating strong interest from several other large, high-profile Web 2.0 companies.