Nanigans, Inc. and Redstar Ventures, LLC announced today the acquisition of LoopIt, one of Redstar’s operating companies.  LoopIt’s team and technologies will augment Nanigans’ continued expansion into e-commerce.

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.  LoopIt founder and President, Andrew Lau, will assume the role of Chief Strategy Officer. at Nanigans.  Terms of the deal weren’t disclosed.

About Nanigans, Inc.

Nanigans offers a SaaS platform that optimizes to predictive lifetime value. Its technology empowers over 250 performance marketers to find, acquire and retarget their most profitable customers at scale across social and mobile. With over $350 million running through our platform annualized, Nanigans provides in-house marketers a significant cost savings due a publisher-direct relationship model. Backed by Avalon Ventures with over 140 employees, Nanigans has offices in Boston, New York, San Francisco, London Sydney and Singapore.

Founded in 2010 by veteran entrepreneurs from data warehousing and performance marketing, Nanigans is regarded as one of the most innovative companies in advertising technology and cloud marketing today. By investing in predictive algorithmsthought leadership and great people, Nanigans is solving technical challenges and generating positive return on ad spend at scale on behalf of the world’s largest performance marketers. And the company is doing so across the fastest growing and constantly evolving digital channels of social and mobile.

Source: Virtual Strategy