CitySquares, an online city guide and directory company based in Boston, has acquired the assets of Yokel, which provides online retail services and maintains a database of 2 million retailers. Terms weren’t disclosed. The combination should work well with CitySquares’ recent turn toward national/local operations.
Fees for Yokel, whose tagline is “all shopping, all local,” start at $7.95 a month. Retailers using the service get a free storefront, assorted marketing tools, and listings on search engines and on Yokel’s own shopping directory. The site was started by Scott Randall, former CEO of FairMarket, an early eBay competitor that later focused on B2B retail auctions. Randall will work with CitySquares as a consultant.
According to The Boston Business Journal, CitySquares, which has some backing by Mark Cuban and Jonathan Kraft (i.e., the family behind Gillette), says it expects to be cash flow positive in 90 days and will be hiring again after weathering the tough climate of 2009.