Viggle, the social TV rewards site, has bought bigger social TV media competitor GetGlue for $25 million in cash and stock. Viggle, launched only 11 months ago, had a base
of 1.2 million registered users. The newly merged company will have 4 million users.
Viggle's TV users receive points for watching and engaging in TV shows and can redeem points for purchases at Best Buy, Amazon, Fandango, Hulu Plus and iTunes. Viggle’s audio verification technology recognizes and allows users to check into live, time-shifted and online TV content from more than 170 of the most popular broadcast and cable channels.
New York City-based GetGlue, which started five years ago, also is TV-centric in the social media space -- enabling users to tell friends what they are watching, track their favorite shows, and find videos, images and links. It has more than 3.2 million registered users, as well as a database with more than 500 million entertainment ratings and check-ins.
"With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user
experiences and provide industry leading platforms for consumers, networks and advertisers," said Robert F.X. Sillerman, executive chairman/CEO of Viggle.
Sillerman added that the company would increase "the Viggle user base and quadruple our network partnerships."
Alex Iskold, chief executive officer/founder of GetGlue, will join Viggle in a senior executive position on its management team and as a member of its board of directors. Viggle will also hire all 34 GetGlue employees.