Skype Snaps Up GroupMe

Communications service Skype in Luxembourg said in press release Sunday it entered into an agreement to acquire New York’s GroupMe. Terms of the deal were not disclosed by the companies but a post at AllThingsD pegs the price at about $85 million. One-year-old GroupMe‘s app lets users send messages and start conference calls with groups formed from their smartphone contacts. GroupMe’s investors include Betaworks, First Round Capital, Founder Collective, General Catalyst Partners, Khosla Ventures, Lerer Ventures, and SV Angel. According to Venture Deal, GroupMe raised $10.6 million in January and $850,000 last August. Skype is in the midst of being acquired for $8.5 billion by Microsoft according to a press statement issued in May.

Author: João-Pierre S. Ruth

After more than thirteen years as a business reporter in New Jersey, João-Pierre S. Ruth joined the ranks of Xconomy serving first as a correspondent and then as editor for its New York City branch. Earlier in his career he covered telecom players such as Verizon Wireless, device makers such as Samsung, and developers of organic LED technology such as Universal Display Corp. João-Pierre earned his bachelor’s in English from Rutgers University. View all posts by João-Pierre S. Ruth