Canadian-founded Uptake acquired by Groupon

Silicon Valley based Travel search engine Uptake was acquired by Groupon yesterday.

AllThingsD reported that Uptake had been acquired by for something in the “teens of millions” (between $10 and $20). The company raised roughly $14 million from venture capital investors, so it was basically a break even transaction. TechCrunch is reporting this transaction as an “acqhire” with the Uptake team being integrated into Groupon’s Palo Alto office and the existing service being shut down.

But why is Techvibes covering this acquisition?

Uptake co-founder Yen Lee is a Canadian and a C100 member and we got a chance to sit down and chat with him about Uptake during C100’s 48 Hours in the Valley. Check out the video after the jump.

Congrats to Lee and his team on joining Groupon.