Townsquared Acquires Voo, Leading Messaging Application
Top 10 iMessage App of 2016 as voted by VentureBeat, Fortune Magazine, and Yahoo News, joins the leading online community for small businesses
SAN FRANCISCO - March 28, 2017 - PRLog -- Townsquared, the only online community designed to help small businesses connect and share resources with each other, today announced the purchase of the assets of messaging platform startup Voo for an undisclosed amount.
The deal includes the acquisition of both Voo's technology and its staff.
Voo, currently being used in over 110 countries, designs innovative smartphone software that enhances chat messaging, provides recommendations and streamlines coordinating plans with friends by having everyone's preferences in a single group chat. Voo integrated apps including OpenTable, Groupon, Uber, and coupon app Mogl to give users a simple and intuitive way of planning, while having access to group tailored choices.
Townsquared will leverage Voo's intellectual property to build enhanced messaging services between large groups of local business owners, and help owners streamline team communications and organization.
"Townsquared's small business members face similar challenges both on the customer end and with their employees. Their customers review them on Yelp and Facebook. Their staff each communicates using a different platform (text, email, Facebook Messenger) and use a variety of tools to make important work decisions. Small business owners need to aggregate all that information in a single place to make smart decisions about their livelihoods,"
Given Voo's focus on making information across platforms easily accessible, said Townsquared CEO and co-founder Rohit Prakash, the acquisition was a no-brainer.
"Townsquared exists to help small business owners survive — aiding them in making practical business decisions with their customers and staff in mind," he said. "Voo's technology will help business owners better operate in an increasingly integrated world."
Townsquared board members and investors David Hornick, Ann Miura-Ko, and Tim Guleri agreed the acquisition will make Townsquared's platform increasingly attractive to new members.
"I am thrilled to have such a talented group of technologists joining the Townsquared team. They will be invaluable in accelerating the pace of innovation at the company. Providing services to small businesses — scheduling employees, deliveries, and buying supplies — in chat messages is something no one else provides for small mom-and-pop shops," said Hornik, General Partner at August Capital. "Imagine: Opening up your messages, talking to an employee and scheduling an appointment all without leaving the text screen on your phone."
"Messaging is the essential app for SMB's," Tim Guleri, Managing Director, Sierra Ventures added, "as they are short on time and are always on the run."
Miura-Ko, the co-founder of technology investment firm Floodgate Fund, noted: "This will accelerate Townsquared's mission to be the critical community for all small business owners across the nation by marrying the power of instant communication with a community of main street businesses."
Over the past year, Townsquared has more than doubled its membership and is now present in over 500 neighborhoods. The startup currently facilitates communities in San Francisco, Oakland, New York City, Seattle, and Portland. The company plans to expand into additional cities, such as Boston, Chicago, Austin, D.C., Los Angeles, Miami and others shortly.
As a result of the acquisition, Voo will be shutting down its consumer facing apps within a month.
Townsquared was founded in late 2013 by Rohit Prakash and Nipul Patel, who grew up in small business families. Townsquared is the only online community and mobile app specifically designed to help neighborhood businesses be more successful by connecting them to other businesses and local resources. When businesses join Townsquared, they get access to a vibrant community that works together on crime and safety issues, provides neighborhood updates, and gives them the ability to form partnerships and co-sponsor events, and organize efforts around government initiatives.
Townsquared works with thousands of small businesses across the country and continues to grow and expand into new markets. The company has raised $16.4M in total funding from Floodgate, August Capital, Sierra Ventures, Intuit and more. The Townsquared community can be found at www.townsquared.com and via the Android App and Apple App Store.
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Lucy Bartlett, Townsquared