Cambridge startup TalkTo has been acquired by Path to be folded into the California social media company’s new messaging platform called Path Talk.
The deal is rumored to be a mix of cash and stock, BetaBoston reported.
TalkTo was founded in 2010 by a pair of MIT Media Lab innovators, Stuart Levinson and Riley Crane. The app was created as a way for people to connect with local retail stores about product availability and prices, as a well as make quick and easy restaurant reservations.
The startup raised $3 million from Matrix Partners in 2012, led by the firm’s general partner Antonio Rodriguez.
As for Path Talk, the app will launch on Friday, and will let users message each other via text or voice note about their whereabouts and share movies, books, maps and more. Later this summer, the app will begin to integrate TalkTo into its services, allowing Path Talk users to hit up restaurants and stores for product and reservation availability and prices.
Levinson will remain in Cambridge, where he will continue to work on TalkTo’s technology for Path Talk. Crane will relocate to San Francisco to work out of the parent company’s headquarters.
Image via TalkTo
