Summary:

Local.com is buying Krillion, a startup that offers a way to search inventory at local stores, in its latest move to diversify its offerings…

Shopping Cart (horizontal)
photo: Corbis

Local.com is buying Krillion, a startup that offers a way to search inventory at local stores, in its latest move to diversify its offerings. Local.com, which is buying the company for $3.5 million in cash, says it will integrate Krillion’s “product, pricing and discounts data” on its flagship site, and also syndicate it to its partners. Krillion CEO Sherry Thomas-Zon will be Local.com’s vice president, local shopping.

Krillion had raised at least $9 million in venture capital backing, including $6.1 million in a funding round three years ago, so it’s selling at a loss for its backers, which include Leapfrog Ventures and Hummer Winblad Venture Partners. That contrasts to the fate of competitor Milo, which had raised $4 million and was sold to EBay for a reported $75 million in December.

The purchase comes five months after Local.com entered the daily deals market by purchasing iTwango. The company launched its new daily deal offering today, which it is calling Spreebird.

Comments have been disabled for this post