Liz Gannes

Recent Posts by Liz Gannes

Salesforce Acquires Bookmarking Startup Clipboard for More Than $10M

Salesforce has acquired Clipboard, a social bookmarking service that had built interesting hooks for saving rich Web content across devices, both companies said today.

ClipboardThe deal was worth between $10 million and $20 million, according to a closely involved source.

Clipboard had raised about $2.5 million in seed funding from investors including Andreessen Horowitz, Index Ventures, CrunchFund, SV Angel and Betaworks.

So while the deal was a successful outcome, it could also be attributed to today’s “Series A Crunch,” where raising additional money is a challenge, said the source.

All but one of Clipboard’s five-person team will join Salesforce’s Seattle office, but they will be shutting down their own tools in favor of integrating similar functionality into Salesforce products.

Clipboard CEO Gary Flake is a respected tech research executive with history at Microsoft, Yahoo and Overture.

Clipboard told users about the shutdown today, saying the service would end on June 30 but users could download their data.

Calling the news “bittersweet,” the company disclosed it had 140,000 users over the past two years.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work