Loopt
Mobile location-sharing service that let smartphone users see where friends were.
AcquiredSource [3]Source [5]Last verified Oct 2, 2026
About Loopt
Loopt was a mobile social-mapping service that showed smartphone users where their friends were and helped them find nearby people, places and events. Sam Altman started it in 2005 after leaving Stanford, and it was among the companies in Y Combinator's first batch.Source [1]Source [6]
It was backed by Sequoia Capital and New Enterprise Associates and signed a distribution deal with Sprint in 2007 for its friend-tracking map service.Source [1]Source [4]
Green Dot Corporation bought Loopt in March 2012 for $43.4 million in cash, citing its mobile technology and location-based messaging patents. Green Dot made Loopt's Mountain View office its mobile technology hub and planned to wind down Loopt's existing services.Source [3]Source [5]
What happened
Founded in 2005 and funded in Y Combinator's first batch, Summer 2005, with Sam Altman as co-founder and CEO. Green Dot Corporation agreed in March 2012 to buy Loopt for $43.4 million in cash, including about $9.8 million set aside for employee retention, and completed the acquisition that month; Green Dot planned to wind down Loopt's existing services.Source [1]Source [2]Source [3]Source [5]
Timeline
- 2012-03Green Dot agreed to buy Loopt for $43.4 million in cash, including about $9.8 million for employee retention, and completed the deal that quarter.Source [3]Source [5]
- 2007-07Drew down $8.25 million of a planned $12 million Series B and struck a distribution deal with Sprint.Source [4]
- 2005Founded and funded in Y Combinator's first batch, Summer 2005.Source [1]Source [6]
Products and brands
- Loopt: Mobile app for sharing location with friends and finding nearby places and events.Source [1]Source [2]
Leadership
| Sam Altman | Co-founder and CEOSource [3] | Until 2012 |
Funding and financials
| Date | Round | Amount | Investors |
|---|---|---|---|
| 2005 | SeedSource [1] | Y Combinator | |
| 2007-07 | Series BSource [4] | $8.25 million drawn of a planned $12 million | New Enterprise Associates and Sequoia Capital |
People on Founded, and where they went next
| Person | Here | Also built |
|---|---|---|
| Sam Altman | Co-founder, CEO2005 to 2012 | Merge LabsActiveTools for HumanityActiveOpenAIActiveOkloIPOHelionActiveY CombinatorActiveHydrazine CapitalActive |
Links
Sources
- Loopt, Y Combinator. Accessed Oct 2, 2026.
- Loopt, Wikipedia. Accessed Oct 2, 2026.
- Green Dot to Acquire Loopt (Exhibit 99.01, Form 8-K), Green Dot Corporation via SEC EDGAR, 2012-03-09. Accessed Oct 2, 2026.
- Loopt draws on $8.25 million of a $12M planned second round, VentureBeat, 2007-07. Accessed Oct 2, 2026.
- Green Dot Corporation Form 10-Q for the quarter ended March 31, 2012, Green Dot Corporation via SEC EDGAR. Accessed Sep 28, 2026.
- Sam Altman tells high schoolers dropping out of college wasn't a big deal, Fortune, 2024-09-19. Accessed Oct 2, 2026.