Mobile

Skype Pays Around $85 Million for GroupMe

Published on August 21, 2011
by Tricia Duryee

Skype has agreed to acquire GroupMe, a company that has developed a way for groups of people to send messages to each across various smartphone platforms. People familiar with the transaction say Skype will pay around $85 million for GroupMe, which was founded at a TechCrunch event in April 2010. Early investors include First Round Capital, Lerer Ventures and Betaworks; last fall, Khosla Ventures won a bidding war for a $10 million funding round that valued the company at around $35 million. Skype is in the process of being acquired by Microsoft.

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URL: http://allthingsd.com/20110821/skype-buys-groupme-for-text-based-chatting-services/