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Video discovery service Twitvid is acquiring the two-member Frugalo team and buying out investors AngelPad, InterWest and Sierra Ventures. Frugalo, a daily deal comparison and discovery site that started when there was more competition in the daily deal space, will be shut down. We don’t usually note tiny acquisition deals with undisclosed prices, but these small deals are a definite trend as a trick for start-ups to hire entrepreneurial talent.
Frugalo, a daily deals aggregation platform that emerged from AngelPad’s third group of startups last fall, is being acquired by social video site TwitVid. As you may have guessed, the move was more about bringing Frugalo’s founders on board than it was an indication that TwitVid is now interested in the daily deals market. However, some of the personalization technology in use at Frugalo will make its way over to the social network as a part of the deal.