Talks about Loopt acquisition

Altman discusses the $43.4 million cash buyout by Green Dot, which includes $9.8 million set aside in retention payments for key Loopt employees. Loopt’s services will be shut down and its Silicon Valley team will develop mobile services for the payments provider. Altman:

Many of the companies in the mobile location space are trying to figure out different ways to tie what they’re doing to commerce … We’ve all realized the critical piece is how you tie in commerce and payments.