One of the biggest misconceptions in technology is that small acquisitions are less risky and require less attention than large ones. It is not true. When Reply bought my company, MerchantCircle, in May it put several of my top execs in key financial and legal roles. The move was a clever way to bridge the [...]

Reply agreed to pay $60 million in cash and stock for MerchantCircle, bringing a nice payday to backers Scale Venture Partners, Rustic Canyon Partners, Steamboat Ventures and IAC. The two companies expect substantial synergies as they combine their businesses and seek additional acquisitions. MerchantCircle runs an online network that allows local merchants to advertise and [...]

The Mountain View, Calif.-based online business directory and social network MerchantCircle has sold for $60 million in cash and stock after raising $14.3 million over two rounds from Rustic Canyon Partners, Scale Venture Partners, Square 1 Bank, and Steamboat Ventures. The company was purchased by the online advertising business Reply, based in San Ramon, Calif. [...]