SAN FRANCISCO –October 16, 2012– Tagged, the social network for meeting new people, today announced at San Francisco’s Social Edge Summit that it has acquired Urbantag, a community for discovering and sharing your favorite places. The acquisition will contribute significantly to Tagged’s social discovery business and to its focus on mobile.
Urbantag was founded to make it easy for users to curate real-world places through bookmarking and social recommendations. Founder and CEO Andrew Hoag will join the Tagged team as Director of Product.
”We are excited to welcome Andrew and Urbantag to the Tagged family,” said Tagged’s CEO Greg Tseng. ”The social discovery category is growing quickly, and this acquisition furthers Tagged’s momentum and leadership in the space.”
”We are delighted to be joining the Tagged team,” said Urbantag founder and CEO Andrew Hoag. ”The social discovery opportunity is massive, and our team is excited to dive in and incorporate our knowledge in mobile, local, design and beyond.”
In 2011, Tagged acquired popular hi5 to propel its growth and product innovation. This and other moves have bolstered the company’s reach to over 300 million members worldwide. Tagged also grew revenue by 35 percent to over $43 million in 2011.
In addition to capping its fourth year of profitability in 2011, Tagged was named by Forbes as one of ”America’s Most Promising Companies,” made Business Insider’s 2012 DIGITAL 100: The World’s Most Valuable Private Tech Companies, was selected for the Inc. 5000 Fastest Growing Private Companies, and was included on the San Francisco Business Times’ list of Best Places to Work in the Bay Area.
Specific terms of the acquisition have not been disclosed.
Tagged is the social network for meeting new people. While other offerings focus almost exclusively on existing relationships, Tagged has established the category of Social Discovery. Tagged is the largest Social Discovery network in the world with over 330 million members (combined with wholly owned hi5) in 220 countries. Tagged enables anyone to meet and socialize through advanced browsing and matching features, shared interests and more. Founded in 2004, Tagged is based in San Francisco. More information is available at http://about.tagged.com.