Google acquires Bump (mobile data exchange)
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Initial Announcement Date:
Consideration: $35 million (Source: TechCrunch)
Google acquires Bump, a mobile application that allows two smartphones to connect wirelessly to send contact information, photos, and files between devices. Bump had raised approximately $20 million from investors which included Y Combinator, Sequoia Capital, Andreessen Horowitz, and SV Angel. Bump’s 25 employees are espected to join Google with upon close of the deal. At a price of $35 million, with having raised nearly $20 million, investor returns are not substantial.
When the acquisition was announced, Bump indicated that its Bump and Flock apps would continue to exist as standalone products. However, on December 31, 2013, Bump announced that its team was now focused on new projects within Google. Bump and Flock would be discontinued and removed from the Apple App Store and Google Play. With only three months elapsing between acquiring Bump and the shutdown of its products, it became clear that this was more of an “acqui-hire” of Bump’s talent than a technology-acquisition deal. It is possible that Google may still integrate the Flock app into the photo-sharing capabilities of the Google+ social network.
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