Social TV made a few headlines yesterday as Viggle announced they would be acquiring the popular GetGlue.
The deal was made for $25 million in cash as well as 48.3 million shares of stock, the stock being worth around $53 million as of Friday.
Viggle has been trying to market itself as a loyalty program for TV. It uses audio from the movies and shows being watched to check users in and earn points that are redeemable for various gifts. GetGlue is similar as it lets users check-in, but it doesn’t exactly pay. It’s more of a TV Guide substitute that lets you keep track of what everyone is watching.
I personally like Viggle’s idea, but have been left far from impressed with the app. At first it worked great but now it constantly crashes or I don’t get my points at all. I eventually stopped using it. Still, maybe with the addition of GetGlue they can work out some of the kinks and make their service better than ever. Though we’ll see if there is any real money to be made. Neither of the services have very impressive user numbers, but I am guessing Viggle has a plan in there somewhere. I’ll be looking forward to seeing what they come up with.