SocialRadar, the location-based social app created by former Blackboard co-founder and CEO Michael Chasen and backed by $12.8 million, is announcing the acquisition of Baltimore-based Gridskipper, a targeted mobile advertising company founded last August. Terms of the deal were not revealed, but the two companies had already been working closely together over the past year to develop better technology for the SocialRadar app that improved location accuracy while reducing the drain on smartphone batteries.
Coming in on the tail end of the social/local app hype cycle, SocialRadar is competing in a market where several companies are still trying to leverage location as a tool for social networking, whether that’s dating apps like Tinder or other friend finders like Foursquare’s Swarm, for example. The SocialRadar app itself lets you see who’s nearby and how you’re connected (College friend? Former colleague?, etc.)
With the Gridskipper technology, SocialRadar is…
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