• Boston Business Journal, Tuesday, February 4, 2014 12:23 PM

Four people from Cambridge startup LoopIt, including founder Andrew Lau, are joining Boston ad tech firm Nanigans.

LoopIt had received an undisclosed amount of funding from Avalon Ventures and Redstar Ventures.

In a news release, Redstar Ventures managing director Matt Beecher called the merger a "successful early exit for one of our first operating companies." LoopIt was the first company to launch out of Cambridge-based Redstar Ventures, in January 2013.

LoopIt had sought to help consumers tap friends across social networks for advice when shopping online. The LoopIt site will not continue operating, Nanigans said.

Lau will take the role of chief strategy officer at Nanigans, which offers software for advertising on Facebook. Nanigans now employs 150 in all. Terms of the deal weren't disclosed.

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