Friday, January 20, 2012

Rustic Canyon Gets Quick Exit At Mertado

Los Angeles-based venture capital firm Rustic Canyon Partners has scored a quick exit at Redwood City-based Mertado, after Mertado said Friday that it has been acquired by daily deals site Groupon. Financial terms of the acquisition were not disclosed, however, the acquisition comes only four months after Mertado raised $2.3M in a round from Rustic canyon, Redpoint Ventures, Y Combinator, and Blumberg Capital. Rustic Canyon had led the September 2011 investment in Mertado. Mertado develops a social shopping service for Facebook.