According to our contacts at the company and confirmed by PayPal this morning, Boston based Where has been acquired by internet giant Ebay. The news of this deal was brought to our attention late last week, but also included rumors of other giants like RIM also putting in bids. According to sources very close to the deal the price tag for Where was reported at $135 million.
Where is set to report to the Paypal business unit within Ebay. And according to a PayPal spokesperson Anuj Nayer “Ebay and PayPal are both investing in multi-channel commerce and the online to offline experience,” he explains, “this acquisition represents that.”
When you talk about big news for Boston, this is it. Where has been heads down building a fantastic product and are now joining a world class team at Ebay. Combining Where’s location based services with Paypal’s payment system will drive huge innovation in the mobile payments field.
In a blog post by the PayPal team they commented on the integration, “As a first step, we plan to integrate PayPal into the WHERE mobile app to make it even easier for PayPal customers to take advantage of the local deals. As John Donahoe said at analyst day, eBay Inc. is at the forefront of a new retail landscape, which is more convenient, more accessible, more local and – and more relevant to more consumers than ever before.”
We have covered Where extensively over the past year from when their app first got the check-in feature, to their acquisition of LocalGinger, Geofencing patent and huge milestone of delivering over a billion mobile ads a month. Check out the Where tag for all of our coverage.
Where was founded in 2004 and has received just over $19 million in funding. Their mobile app boasts over 4 million active users a month across all devices, and just recently entered the daily deals space with NearBuys.
Here is an internal picture from Mike Bernardi, the company’s mobile UX lead, of CEO Walt Doyle telling the Where team about the acquisition.