In an announcement this morning, Viggle inc. (VGGL), who operates a television loyalty service business, has entered into an agreement to acquire GetGlue, the popular Social TV application for $25mil in cash and 48.3 million shares of stock. GetGlue founder and CEO Alex Iskold will join Viggle’s Board of Directors and also hold a senior management position within the company. Viggle also plans to continue operating GetGlue and absorb all 34 of their employees.
Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader.
Viggle has more than 1.2 million registered users who use their service to rack up loyalty points for engagement and viewing of their favorite television show content. With their loyalty points, Viggle users can redeem real-world rewards from outlets like Amazon, Best Buy, Fandango, Hulu Plus and iTunes. Alex Iskold, Founder and CEO of GetGlue said, “We are very excited to join forces with Viggle! GetGlue has built a Social TV product that people love, and Viggle has become their favorite loyalty program for TV. Together we are positioned to deliver the next generation second screen experiences that delight and benefit users, networks and major brands.”
With the acquisition of GetGlue, Viggle adds another 3.2 million registered users from the popular SocialTV ‘check-in’ service, that has been compared to Foursquare, but for television. The service also allows users to discover new content they might like based on their interests, where they have ‘checked-in’, and a database of over 500 million reviews, ratings and tips. Users can also view a customized guide designed for mobile use that displays content from both online and broadcast sources.
“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 and CEO of Viggle in this mornings announcement. “We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader.”