Toro, a mobile marketing platform built by San Francisco, California-based Red Hot Labs, has been acquired by Google (GOOG).
The amount of the transaction was not disclosed.
Founded in March of 2012 by Amitt Mahajan, Joel Poloney and Dave Pekar, Toro provides app companies with a Facebook advertising platform to set up, run and optimize marketing campaigns.
The company, which will now shut down the service, had raised $1.5m in funding from well known investors including SV Angel, Andreesen Horowitz, General Catalyst, Greylock Partners, IT-Farm, Keith Rabois, Chris Dixon, Bill Tai and Matt Ocko in 2013 (read here).
FinSMEs
26/02/2015