500px Snapped Up Recommendation Engine Algo Anywhere For $2 Million In Cash And Stock

500px, the Toronto-based startup that powers a super-slick photo sharing site, announced today that it has made its first acquisition with the purchase of Algo Anywhere, a startup also based in Toronto that specializes in recommendation algorithms. 500px says Algo Anywhere's recommendation engine technology will integrated fully into its site to power new personalization features. The pricetag was some $2 million, which came in a mix of cash and stock, a source involved in the deal tells me. That's a very nice takeaway for a bootstrapped two-man startup that was founded just 10 months ago.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/LyIdQleZ8MI/

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