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MIT start-up Locu is sold to GoDaddy

Locu, an MIT start-up that helps small businesses get found online by potential customers, has been acquired by GoDaddy, reportedly for $70 million.

The two-year-old San Francisco company enables businesses to automatically update their listings on websites like Yelp, TripAdvisor, and YellowPages simply by making changes in Locu accounts. For instance, the service could help a restaurant quickly post nightly specials on many of the sites that diners consult.

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Locu charges $25 per month and has 30,000 subscribing businesses. It already was integrated into GoDaddy’s Website Builder service.

“We had a great integration partnership and felt GoDaddy could accelerate Locu’s growth,” Locu chief executive Rene Reinsberg said. “We have a concept of digital identity for small businesses that allows them to keep control of their information on the Web.”

Terms of the deal were not disclosed, but AllThingsD reported the purchase price was $70 million.

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