Skype Buys GroupMe for North of $50 Million

The natural circle of life is very much a part of the new tech boom. Smaller fish get eaten by bigger fish, and even bigger fish eat those fish. TechCrunch broke the news today that Skype has purchased the group-messaging start-up GroupMe. Skype was bought by Microsoft in May for $8.5 billion. (The transaction is still pending, according to TechCrunch). The terms of the GroupMe purchase were not disclosed, but New York Observer's BetaBeat is reporting the company was sold for more than $50 million, but less than $100 million. GroupMe was just over a year old, and acted as a text messaging answer to email's "reply all" button. The service offers users a way to hold a conversation with multiple people via texts. If you're planning breakfast with a group of people, everyone can throw in suggestions for restaurants and decide where to go in one conversation. GroupMe has only had $11.5 million in funding, so if the reported price is real, everyone is getting a healthy return on their investment.

Read the full story at The Atlantic Wire.

Presented by

The Atlantic Wire is your authoritative guide to the news and ideas that matter most right now.

What Happened to the Milky Way?

Light pollution has taken away our ability to see the stars. Can we still save the night sky?

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

What Happened to the Milky Way?

Light pollution has taken away our ability to see the stars. Can we still save the night sky?

Video

The Faces of #BlackLivesMatter

Scenes from a recent protest in New York City

Video

Desegregated, Yet Unequal

A short documentary about the legacy of Boston busing

Video

Ruth Bader Ginsburg on Life

The Supreme Court justice talks gender equality and marriage.

Video

Social Media: The Video Game

What if the validation of your peers could "level up" your life?

Video

The Pentagon's $1.5 Trillion Mistake

The F-35 fighter jet was supposed to do everything. Instead, it can barely do anything.

More in Technology

Just In