Last night, GroupMe announced their acquisition by Skype, a great outcome for Jared Hecht and Steve Martocci, and for their investors, First Round Capital included. It was announced a few days after their first anniverary party. I"ve had a great time working with Jared and Steve - their enthusiasm and work ethic are first rate. I've also had a great time using the product, which has made keeping in touch with my family and friends much easier. I'd write more, but my colleague, Charlie O'Donnell (@CEONYC), who brought this deal in, has said it very well here. And our coinvestor, David Tisch (@DaveTisch) shows that the focus on investing in people works.
All the best to @jared and @Smart as they build Skype's NYC Social Media presence.
Merger/Acquisition will still be a trend in IT industry.
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I had enjoyable working with their passion and work ethos are first rate. I've also had enjoyable using the product, which has made keeping in touch with my family much easier.
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Skype is a valuable acquisition, given how widely used it is as a communication tool. It should yield a large return-on-investment.
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