Circle Street Acquired By Valassis

Los Angeles-based Circle Street, the developer of a mobile advertising service to help retailers drive local store traffic, has been acquired by media and advertising firm Valassis, according to the company's venture backer, Crosscut Ventures. Financial terms of the acquisition were not announced. Circle Street was founded by Alex Nocifera, and operated a subscription service to help retail brands drive local, store-level traffic via mobile advertising. Circle Street will become part of the emerging digital business at Valassis. Circle Street was one of the companies in the LaunchpadLA incubator, and was one of the companies in that accelerator/incubator's second class.