GoDaddy has acquired Locu, a startup that helps small businesses increase their visibility on the Web, for an estimated $70 million cash and stock.
Locu currently works with 30,000 business, primarily in the restaurant, salon/spa and general business services niche and has built over one million business profiles. The Locu platform will likely be used in tandem with GoDaddy's website builder, which has been offered to small businesses for many years.
“We had a great integration partnership and felt GoDaddy could accelerate Locu’s growth. We have a concept of digital identity for small businesses that allows them to keep control of their information on the Web,” stated Locu's co-founder and chief executive officer Rene Reinsberg.
Locu has been partners with GoDaddy since earlier this year. Locu's, which charges around $25 per month for their distribution services, distributes profile information to companies including YP.com, Foursquare, Yelp.com, TripAdvisor, and Facebook.
GoDaddy and Locu are both “hell-bent on helping the ‘little guy’ thrive on the Internet,” said GoDaddy Chief Executive Officer Blake Irving in a statement.