Green Dot Corp. has agreed to buy Loopt. Green Dot is paying $43.4 million cash, which includes about $9.8 million to be set aside as a retention pool for key Loopt employees . The deal is expected to close by the end of first quarter. Loopt is maker of a mobile social mapping application. Loopt [...]
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Loopt, maker of a mobile social mapping application, is suing a recycled apparel maker called LooptWorks. The former claims that the latter has ripped off its trademarked logo, including usage on the type of social networks where Loopt makes its home. Loopt has raised more than $20 million in VC funding from firms likeSequoia Capital and NEA.