GoDaddy has acquired CSAIL start-up company Locu, an online platform that helps promote local businesses, for $70 million. Locu was co-founded by CSAIL PhD candidate Marek Olszewski and CSAIL postdoctoral associate Stelios Sidiroglou-Douskos. GoDaddy is a domain seller and small business online platform, and has been working with Locu since June of 2013.
The idea for Locu came about while working on a project supervised by top MIT researchers including Sir Tim Berners-Lee.
For more information on the acquisition, check out: http://allthingsd.com/20130819/godaddy-acquires-merchant-finder-startup-locu-for-70-million/?mod=atdtweet. For more information on Locu, please visit: http://locu.com/. To find out more about CSAIL start-ups, check out: http://www.csail.mit.edu/csailnews/media/CSAIL_Spin-Offs.