Congratulations to Gary Flake and the rest of the team at Clipboard. They were acquired by Salesforce today. Proud to be an investor. I first wrote about them in late 2011, one of our first Crunchfund investments.
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Is this a new trend? Large companies buy small companies, investors happy, team happy, users not so happy because the buyer shuts down the company!
not always, they usually try to integrate the product into theirs
I’m not sure the investors are happy. From what I can tell, Clipboard sold for $10M( http://technorati.com/business/article/salesforce-buys-clipboard-for-10-million/) and the investors in the angel round invested $1.4M (http://www.geekwire.com/2011/gary-flake-unveils-allstar-investors-clipboards-14m/). Now it’s hard to tell the terms, but ballpark would tell you 15% equity in an angel/early round, or a $10M valuation….so a donut of a return. Maybe a bit more if they got more equity. Maybe investors are happy they didn’t lose anything, but it’s hardly a great VC investment.
Clipboard data can be exported and imported into Etceter.com through http://www.etceter.com/clipboard – Etceter.com is another great clipping/content curation tool