eBay Inc. has announced that it has acquired location-based media company WHERE Inc., the move will continue to help the ecommerce giant bridge the gap between online and in-store shopping.
Financial terms of the acquisition was not disclosed, the acquisition price maybe $135 million but this is unconfirmed and is expected to close during the second quarter of 2011.
Where, has raised nearly $20 million , is based in Boston and has four million users, makes apps for major mobile device platform—including Android, iPhone, and Blackberry, which provide local listings for restaurants, bars and shops, and it also suggests places and deals for users based on their location. It also
EBay said it initially plans to integrate PayPal into the Where mobile app, and could eventually integrate Where more broadly with its marketplace platform.
"By giving people hyper-local, relevant retailer information and deals on their mobile phones, we see a huge opportunity for local merchants to reach more buyers, and for consumers to get more choice and value when they shop," eBay said on its PayPal blog.
Next week, eBay will report first-quarter results.