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The consolidation continues in the social media monitoring space. And now one of Seattle’s upstarts is benefiting. BuzzLabs, a 2-year-old startup founded by former Microsoft employees Philip Lee and Dou Shen, has been acquired by CityGrid Media for an undisclosed price. The deal comes a few weeks after forked out $326 million for Radian6, a rival to both BuzzLabs and Bellevue-based Visible Technologies.

CityGrid, which is owned by IAC and operates properties such as Urbanspoon, Insider Pages and Citysearch, plans to use the BuzzLabs technology to analyze reviews, blog posts, likes, check-ins and more. That’s becoming increasingly important, especially as local businesses try to get a better handle on what’s being said about them online.

“Reputation management is (a) natural part of running a business,” Lee tells GeekWire. “With the rise of the local web, management of a merchant’s online reputation becomes necessary. By integrating it into products merchants use today, such as CRM or advertising, we can help merchants become connected to their online presence through their day to day operations.”

BuzzLabs has six employees, and the company plans to relocate from its Bellevue headquarters to Seattle.

“We’re excited about where CityGrid is going – everywhere local happens; it’s where we want to go too,” said Lee.

What’s going to be interesting to watch is where Visible Technologies lands. The Bellevue company, which also helps companies do social media monitoring, has raised a total of $45 million, including a $6 million round earlier this year.

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