Canpages, a Canadian local search firm, is acquiring GigPark, a nifty social recommendations platform that enables users to find and praise local businesses and service providers together with their friends.
The deal terms were not disclosed so it’s safe to say it likely concerns a fairly small acquisition, although we should note GigPark was bootstrapped by a mere $200k from its two co-founders Noah Godfrey and Pema Hegan.
Canpages intends to integrate user recommendations into its online local search platform, and add a social media layer to its online and mobile products, so it was probably cheaper for them to buy the Toronto-based company outright than to develop all that in-house. The acquisition will also allow Canpages to incorporate GigPark’s functionality and content into its ImmersiFind platform, the company’s online search and SEO-enabled publishing technology that it licenses to some 15 directory companies around the world.
As part of the acquisition, both GigPark co-founders and its Director of Technology, Paul Dowman, will be joining the local search player’s 700-strong workforce. The three men will not be relocating as a result of the deal.
This isn’t the first acquisition announced by Canpages this month. Just two weeks ago, the company announced that it had purchased Texas-based ypOne Publishing’s PhoneGuide print and online directories in Ontario, resulting in a self-reported additional 7,000 new customers (advertisers) and an increase in revenues of $9.2 million.
Canpages publishes more than 80 local telephone directories throughout Ontario, Quebec, Alberta, British Columbia, Northwest Territories and Yukon. In less than one year, Canpages says it has expanded its reach from 2 million to 8 million homes and businesses across the country, and claims its website Canpages.ca receives more than 3.5 million unique visitors every month with their local search requests.
Congrats guys! Well done.
Humm something like http://www.praized.com ?
This company is just down the street from our office, I see it everyday…(Office in Markham) Good for you guys…
Congrats!
Nice looking app, congrats on their success!
Congratulations to the GigPark guys. Recommendations and reviews work!
Congrats to the Canpages and GigPark guys. Smart acquisition. It’s great to see two successful Canadian companies continuing to grow the space.
Go Toronto, and congrats Noah, Pema and Paul – you done great.
Gee bootstrapped for $200k what a joke,the site hardly gets any traffic,in my book it worth $2-$3k,,,,,,,,,
It’s always great to see a Canadian start-up succeed! Congrats!!