Google on Monday announced that it has acquired daily deals startup The Dealmap, which is expected to bolster competition in the daily deals market.
Terms of the transaction were not disclosed. Google said in a statement that it is impressed with what The Dealmap team has accomplished.
Launched in May 2010, The Dealmap is a daily-deals aggregator that shows on a Google Maps-powered map where users can find all the Groupon-like daily deals in their geographic area.
It currently has more than 2 million users of its mobile, Web, social and e-mail products. Its app downloads have topped 1 million times on iPhone and Android devices.
"We believe Google provides the ideal platform to help up accelerate our growth and fulfill our mission," The Dealmap said in a blog post.
Google launched its own daily deal service Google Offers earlier this year, bundled with its mobile payment service Google Wallet. The acquisition of The Dealmap is expected to help Google tap more market share which are currently dominated by Groupon and LivingSocial.
Last December, Google tried to buy Groupon for as much as 6 billion U.S. dollars, but the Chicago-based startup decided to pass up the offer. Groupon is expected to have its IPO later this year.
