TECH in AMERICA (TiA)

SHARING AMERICA'S TECH NEWS FROM THE VALLEY TO THE ALLEY

Source: Xobni Was Acquired For More Than $60 Million

by courtesy TechCrunch

So email management startup Xobni was acquired by Yahoo today, the company officially announced on its blog. Initial reports said the company was acquired for “upwards of $30 million” but TechCrunch has learned that total consideration for the deal will be about twice that amount, somewhere in the $60 million-plus range.

Founded in 2006, Xobni raised about $42 million over the years, as it tried to reinvent the way email was done. The company’s last round of funding came in February of last year, and investors over the years have included First Round Capital, Khosla Ventures, RRE Ventures, Baseline Ventures, RBC Venture Partners, Relay Ventures, Cisco, Atomico, as well as a number of angels.

A source with knowledge of the acquisition disputes the $30 million figure, saying total consideration is about double what had been reported. A price in the $60 million range (including earnouts and other considerations) isn’t a fantastic return for its investors, but at least the company wasn’t acquired for less than it had raised. While the company didn’t get to be as big as the team or investors might have hoped, they also didn’t get rocked in the transaction, as has been suggested.

We’re still hoping to talk to both Yahoo and Xobni about the deal and how the startup will fit into Yahoo’s products and culture. It’s likely that Yahoo will be able to incorporate some of its technology into its own mail products as a way to improve them.

We’ve also reached to Yahoo and Xobni about terms of the deal. Yahoo says that it’s not commenting on the financial terms, and a representative from Xobni hasn’t responded to our request yet.xobni 60mil

Thank you, TiA

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Information

This entry was posted on July 3, 2013 by in M&A's and tagged , , , , , , , .

Top Posts & Pages

POSTS

Enter your email address to follow this blog and receive notifications of new posts by email.

TEAM TiA!

%d bloggers like this: