Coupons, Inc., today announced that they have acquired the app Grocery IQ from developers Free State Labs for an unspecified sum and plans on integrating mobile coupons into the application in version 2.
What seems most interesting to me is that this is one of first examples of an iPhone application, developed by a small group, being acquired by a larger company. There are a couple examples of applications being sold from one small indie developer to another. Where To? comes to mind. Even smaller apps being licensed by larger companies, for example Light Saber.
I’m surprised that we haven’t seen acquisitions happen more. It’s a great way for larger companies to buy an audience. And it’s a good way for developers, who perhaps have grown tired of supporting an application that may no longer be bringing much revenue, to make a little money with it and move on to the next project. Guessing we’ll see more of this in the future.
Released: 2008-09-11 :: Category: Lifestyle
The full press release is after the jump.
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