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Acquisitions

Acquisitions

Fab.com Buys Llustre and Opens Up Shop in the UK

Name-changer. (Photo courtesy of Fab.com)

Fab took another step toward design-savvy world domination today, with the announcement that the company has acquired the British Isles’ own Llustre, which will become Fab UK. The move follows the February purchase of Casacanda and relaunch as Fab.de.

In a statement released this morning, Mr. Goldberg also announced that Maria Molland, previously of Thomson Reuters, will now be Chief European Officer for Fab, a role which is clearly on a growth track.

Shortly after the news broke this morning, CEO Jason Goldberg and CCO Bradford Shellhammer appeared across the pond at Le Web, where they were grilled good-naturedly by Mike Arrington about the announcement. Curious to know more about the team’s U.K. plans, we caught the talk via livestream.

Most of all, Mr. Arrington wanted to know why Mr. Goldberg and Mr. Shellhammer decided to buy “a clone” rather than “crushing” Llustre. The Fab.com certainly hadn’t responded well to the existence of the Samwer brothers’ copycat Bamarang; why give quarter to this company? Read More

Acquisitions

Google Officially Acquiring Meebo

Elaine Wherry, Meebo's cofounder (meebo.com)

Remember Meebo, the online tool that allows you to chat via various services like AIM, Yahoo and IRC, all through your browser? As long as your high school’s IT guy wasn’t very hip, it was the perfect solution to the fact that they always managed to block AIM. Well today, Meebo announced that Google has agreed to acquire it. Read More

Acquisitions

Salesforce Acquires Buddy Media for $689M in Cash and Equity

Mr. Lazerow (flickr.com/leweb3)

Salesforce has agreed to acquire New York-based social marketing company Buddy Media for $689 million in cash and equity. As we wrote last week, an acquisition made sense for Buddy following Facebook’s bungled IPO–though it’s worth acknowledging that deals like this take time, and machinations for the acquisition were probably in the works long before the IPO.

“I’m excited to announce that we’ve entered into an agreement to acquire Buddy Media,” Marc Benioff, Salesforce’s chairman and CEO, said on an investor call this morning. “It’s our largest acquisition to date at Salesforce.com. We’re expecting the deal to close in our third fiscal quarter.” Read More

Acquisitions

An Acquisition for Buddy Media Makes Sense—After FB’s Dive, It Can’t IPO

Michael Lazerow, CEO of Buddy Media (flickr.com/leweb3)

AllThingsD is reporting that social marketing company Buddy Media is in talks to be acquired by Salesforce for $800 million. We had been hearing similar rumors ourselves, and reached out to Buddy Media last week, but the company refused to confirm, saying only, “We’ve been hearing this kind of chatter since the day we started the company, and it has always turned out to be false.”

An acquisition for Buddy makes sense–Facebook’s bungled IPO (its stock dropped another 10 percent today) left little room for companies with offerings reliant upon Facebook to go public themselves. And judging from Buddy’s hiring of an “IPO-ready CFO” last August, an IPO was its preferred route. Read More

Acquisitions

Sorry, But the Lesson of Instagram Is Not: Teach Yourself to Code and You, Too, Can Get $400 M.

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The impulse to draw inspiration and meaning from a face-melting deal like Facebook’s $1 billion bid for Instagram is only human. Otherwise, you’re out at sea, drowning in headlines about how a 28-year-old made $400 million yesterday, a two-year-old photo app is worth more than The New York Times, and how investors doubled their money overnight.

Everything you know about the creation of wealth torn asunder–all thanks to a service you helped promote. The impulsive backlash was enough to compel Courtney Boyd Meyers to remind everyone that for-profit companies are not your friends.

Thus, it comes as little surprise that the stickiest story about Instagram this morning, judging by our Twitter feed, is a post on The Next Web about how CEO Kevin Systrom was once a lowly marketer who taught himself to code at night. Read More

Acquisitions

Facebook Acquires Instagram For $1 B. Just Days After a $50 M. Investment From Sequoia, Thrive, and Greylock [UPDATED]

Cheers, Mr. Systrom!

Things sure do happen fast when you’re wicked popular. On Facebook, Mark Zuckerberg just announced that his social network has agreed to acquire the photo-sharing darling Instagram, adding that “their talented team will be joining Facebook.” In a press release, Facebook says the deal was for a jaw-decimating $1 billion “in a combination of cash and shares of Facebook.”

The news follows a whirlwind week for the clubby favorite. After launching on Android last Tuesday,  the startup picked up an additional million users (it already had 30 million iPhone users) in 12 hours. That kicked off rumors via AllThingsD on Friday that Sequoia was close to investing $50 million for a Series B round that valued the startup at $500 million, which TechCrunch just confirmed. Read More

Acquisitions

Pivotal Labs Purchased by EMC: ‘Same Pivotal, Increased Velocity’

Screen shot 2012-03-19 at 9.33.06 AM

Last week, Om Malik broke the news that Pivotal Labs, which is based in San Francisco but has an outpost in Union Square, was in talks to be acquired by a major technology company. At the time, a source told Betabeat that Pivotal had been contemplating a sale for years. “The thinking behind this move, is to scale pivotal to Sapient levels of huge,” another source familiar with Pivotal told Betabeat.

Well, late Friday, GigaOm got the exclusive: EMC Corporation, a publicly-traded Fortune 500 company that helps IT departments “accelerate the journey to cloud computing,” bought Pivotal Labs, the agile development pioneer known for its work with Twitter. (Startups bring in their tech team, who get paired with staffers called “Pivots,” who teach them agile development while working together on their product.) Read More

Acquisitions

Was Posterous a ‘Consolation Prize’ When Twitter Really Wanted to Buy Tumblr?

First Prize?

When the news broke this Monday that Twitter was acquiring Posterous, the reaction among the tech blogs was a rather muffled meh. Posterous, the microblogging platform that was pitted again Tumblr as soon as it game out of the gate, simply never got much traction. The platform’s founder, Garry Tan moved on to a more promising role as designer-in-residence and now venture partner at Y Combinator.

But what if Twitter had purchased Tumblr instead?

According to Gawker’s Ryan Tate, that’s exactly what Twitter was hoping for. His characterization of a partnership between two companies that hemorrhage cash? “The millenium’s worst merger,” beating out Time Warner-AOL’s “worst deal of the century.” As Mr. Tate writes: Read More