Punchd, Cal Poly SLO Startup, Acquired By Google

Sandwiched between the technology centers of the Bay Area and Southern California, San Luis Obispo is better known for its beaches and tourism than tech startups. However, one startup spawned out of the area, Punchd, has just successfully sold itself to tech powerhouse Google. Founded by a team of Cal Poly San Luis Obispo computer science students, Punchd announced Monday that it has become part of Google Monday afternoon. Financial details of the acquisition were not disclosed. Punchd--which is based out of Mountain View--Punchd develops mobile loyalty card applications for Android phones. The firm was founded by Reed Morse and Grantland Chew, who--along with a number of Cal Poly SLO classmates--scored funding from 500Startups earlier this year. The firm's team will become part of Google's Mountain View team.