San Francisco-based social network Tagged has completed the acquisition of Topicmarks, a business which takes long form content (documents, news articles, webpages, email attachments and books) and summarizes them, making a more efficient experience for users. The Topicmarks team will join Tagged immediately. Financial terms of the deal were not disclosed. Tagged secured $1.5 million in angel funding in September 2005 the company and three months later raised $7 million from Mayfield Fund, a venture capital firm.
Tagged, the social network for meeting new people, today announced it has completed the acquisition of Topicmarks. Topicmarks’ mission is to make long form content as easy and relevant to work with as social media. The company’s staff and technology will help power the growth of Tagged as it expands its footprint as the best place to meet new people online.
2011 Founder Showcase winner Topicmarks was created to take long form content (i.e., documents, news articles, webpages, email attachments and books) and summarize them, making a more efficient experience for users. Topicmarks has also been a trailblazer in building technology that helps match people and information, thus offering Tagged increased capabilities to connect people through their interests.
The Topicmarks team will join Tagged immediately. Financial terms of the deal were not disclosed. Future use and incorporation of Topicmarks’ technology will be revealed in the coming months.
“The Topicmarks team has made tremendous industry strides in understanding and working with long form content, and data overall,” said Greg Tseng Tagged CEO. “Their current work and their dedication to innovation will be huge benefits to us as we strengthen our capabilities to bring people together, whether they want to connect over a common interests, play social games or even date and flirt.”
“We started Topicmarks to take on the herculean task of making a Harvard Business Review story as easy to work with, share and understand as a Tweet or wall post,”
Said Peter Berger II, Topicmarks CEO. “What we discovered on this journey are better ways to connect people, not just data, and that makes the acquisition by Tagged a perfect marriage.”
Tagged is the social network for meeting new people. While other offerings focus on existing relationships, Tagged has established the category of social discovery. With over 100 million members in 220 countries, Tagged enables anyone to meet and socialize with new people through social games, customized profiles, virtual gifts, advanced browsing features and more. Tagged is based in San Francisco.