Terms have not been disclosed. But the four-person SimpleHoney team will be joining OpenCoin’s 12-person crew in an effort to make OpenCoin’s virtual currency system simpler and more accessible for the average consumer.
OpenCoin is the company behind Ripple, an open source payment system developed by self-described “Bitcoin Enthusiasts”. SimpleHoney was launched in the spring of 2012 as a source for hotel recommendations based on the traveler’s personality and preferences. Since then, SimpleHoney has become better known for its “I Want Wish List” wish list app.
SimpleHoney’s ability to develop user-friendly technologies is one of the reasons for the acquisition, according to SimpleHoney co-founder Joyce Kim. Indeed, the SimpleHoney team will serve as OpenCoin’s “consumer engagement” group, focusing on usability issues.
OpenCoin will be presenting in San Francisco in May as part of FinovateSpring 2013. To learn more about the event, and to find out how to reserve your spot, click here.