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Local.com creates social buying business unit

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Irvine, Calif.—Local search site Local.com Corp. has created a new business unit to purchase ad space on social media sites for its small-business customers and distribute daily deals through the group-buying process.

The company's new unit will take advantage of technology the company gained through its acquisition earlier this month of iTwango and its buying platform, which allows for the purchase of discounted offers from a business if a minimum number of buyers is reached. (The most prominent such service today is Groupon.)

Local.com will rebrand the iTwango service and distribute it through its Local.com site as well as its network of more than 1,000 local and regional media sites and 100,000 local websites under Local.com management, according to the company.

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