According to various news sources (Techcrunch, GoPago blog, and others) DoubleBeam, a company that offers commerce solutions (including white label) to merchants and mobile payments for customers, has acquired GoPago. Actually there are 2 deals here, one with Amazon and one with DoubleBeam.
The first part is the mobile payment business. GoPago’s app allows shoppers to order and pay for goods and services before they arrive at a business. Amazon recently acquired GoPago’s technology (mPayment) and hired their engineering and product teams.
DoubleBeam however, took over the Point of Sales (POS) business and merchant relationships according to Techcrunch. DoubleBeam was founded in April 2012 and is run by a team of seasoned payments executives from companies such as Green Dot, PayPal and Digital Insight (bought by Intuit for $1.3B).
GoPago launched their first mobile app in August 2011, as Pago, in Mountain View, CA. After this, Pago rebranded it as GoPago and went live in San Francisco in 2012. GoPago unveiled their ‘GoPago Live’ service in April, 2012. They have been financially backed by JP Morgan and were headquartered in San Francisco with offices in Dallas and New York. At the time of the acquisition they had around 70 employees.
DoubleBeam provides white-label mobile payments technology for mobile apps and point-of-sale systems, including services like e-checks. Apparently, Amazon was only interested in GoPago’s technology and not the existing business (maybe they have a different game for merchant acquisition). This turned out to be useful for DoubleBeam which will integrate a few aspects of GoPago’s POS technology with their existing products.
“We are very excited about the synergies between Doublebeam’s leading mobile commerce solutions and the mobile point-of-sale systems that GoPago brings to the table” stated DoubleBeam CEO Ted Tekippe. “The complimentary capabilities of these technologies will bring a unique and holistic solution to the retail industry. It’s exactly what our customers have been asking us for.”
This move by DoubleBeam comes less than a week after the announcement of GoPago’s acquisition by Amazon. It has been hinted that Amazon could be working on a new offering that competes with Square. The company also launched the “Login and pay with Amazon” service recently which competes with companies such as PayPal by offering one click checkout experience. GoPago could be part of this grand scheme. PayPal also recently acquired StackMob, indicating a growing focus towards the developer community.