SimpleGeo, the once promising location startup, has been acquired, I’ve heard. The buyer is Urban Airship.
This is an all stock acquisition apparently, totaling around $3.5 million in value. Since SimpleGeo has raised nearly $10 million in venture capital, it’s likely that all or nearly all of the acquisition price would go to the last round investors due to their liquidity preference.
It’s a soft landing for SimpleGeo. But at least the service may live on.
Urban Airship has raised $6.5 million.
Uncrunched 