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Dropbox to acquire secure document sharing startup DocSend for $165M
Dropbox announced today that it plans to acquire DocSend for $165 million. The company helps customers share and track documents by sending a secure link instead of an attachment.
“We’re announcing that we’re acquiring DocSend to help us deliver an even broader set of tools for remote work, and DocSend helps customers securely manage and share their business-critical documents, backed by powerful engagement analytics,” Dropbox CEO Drew Houston told me.
When combined with the electronic signature capability of HelloSign, which Dropbox acquired in 2019, the acquisition gives the company an end-to-end document-sharing workflow it had been missing. “Dropbox, DocSend and HelloSign will be able to offer a full suite of self-serve products to help our millions of customers manage the entire critical document workflows and give more control over all aspects of that,” Houston explained.
Houston and DocSend co-founder and CEO Russ Heddleston have known each for other years, and have an established relationship. In fact, Heddleston worked for Dropbox as a summer in intern in 2010. He even ran the idea for the company by Houston prior to launching in 2013, who gave it his seal of approval, and the two companies have been partners for some time.
“We’ve just been following the thread of external sending, which has just kind of evolved and opened up into all these different workflows. And it’s just really interesting that by just being laser-focused on that we’ve been able to create a really differentiated product that users love a ton,” Heddleston said.
Those workflows include creative, sales, client services or startups using DocSend to deliver proposals or pitch decks and track engagement. In fact, among the earliest use cases for the company was helping startups track engagement with their pitch decks at VC firms.
The company raised a modest amount of the money along the way, just $15.3 million, according to Crunchbase, but Heddleston says that he wanted to build a company that was self-sufficient and raising more VC dollars was never a priority or necessity. “We had [VCs] chase us to give us more money all the time, and what we would tell our employees is that we don’t keep count based on money raised or headcount. It’s just about building a great company,” he said.
That builder’s attitude was one of the things that attracted Houston to the company. “We’re big believers in the model of product growth and capital efficiency, and building really intuitive products that are viral, and that’s a lot of what what attracted us to DocSend,” Houston said. While DocSend has 17,000 customers, Houston says the acquisition gives the company the opportunity to get in front of a much larger customer base as part of Dropbox.
It’s worth noting that Box offers a similar secure document-sharing capability enabling users to share a link instead of using an attachment. It recently bought e-signature startup SignRequest for $55 million with an eye toward building more complex document workflows similar to what Dropbox now has with HelloSign and DocSend. PandaDoc is another competitor in this space.
Both Dropbox and DocSend participated in the TechCrunch Disrupt Battlefield, with Houston debuting Dropbox in 2008 at the TechCrunch 50, the original name of the event. Meanwhile, DocSend participated in 2014 at TechCrunch Disrupt in New York City.
DocSend’s approximately 50 employees will be joining Dropbox when the deal closes, which should happen soon, subject to standard regulatory oversight.
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McAfee sells enterprise biz to Symphony Technology Group for $4B
Security firm McAfee announced this morning that it will be selling its enterprise business to a consortium led by the private equity firm Symphony Technology Group for $4 billion.
It should pair well with RSA, another enterprise-focused security company the private equity firm purchased last February for $2 billion.
McAfee President and Chief Executive Officer Peter Leav says that his company has decided to direct the firm’s resources to the consumer side of the business. “This transaction will allow McAfee to singularly focus on our consumer business and to accelerate our strategy to be a leader in personal security for consumers,” he said in a statement.
The company has been making some moves in the last year, returning to the public markets after a decade as a private company. In January, the company reportedly laid off a couple of hundred employees and shut down its software development center in Tel Aviv.
Although Symphony did not point directly to the RSA acquisition, the two investments create a large combined legacy security business for the firm, both of which have strong brand recognition, but might have lost some of their edge to more modern competitors in the marketplace.
Looking at McAfee’s latest earning’s report, Q42020, which the company reported on February 24, 2021, the consumer business grew at a much brisker rate than the enterprise side of the house. The former was up 23% YoY, while the latter grew at a far slower 5% rate.
As for the entire year, the company reported $2.9 billion in total FY2020 revenue, up 10% YoY. That broke down to $1.6 billion in consumer net revenue up 20% YoY, and $1.3 billion in enterprise net revenue, an increase of just 1% for the full year.
The company has a complex history, starting life in the 1980s selling firewall software. It eventually went public before being purchased by Intel for $7.7 billion in 2010 and going private again. In 2014, the company changed names to Intel Security before Intel sold a majority stake to TPG in 2017 for $4.2 billion and changed the name back to McAfee.
The transaction is expected to close by the end of this year, subject to regulatory oversight.
Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product-market fit, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included for audience questions and discussion.
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PayPal to acquire cryptocurrency security startup Curv
PayPal has announced that it plans to acquire Curv, a cryptocurrency startup based in Tel Aviv, Israel. Israeli newspaper Calcalist originally reported the move. And PayPal has now made an official announcement.
Curv is a cryptocurrency security company that helps you store your crypto assets securely. The company operates a cloud-based service that lets you access your crypto wallets without any hardware device.
Curv also lets you set up sophisticated policies so that the new intern cannot withdraw crypto assets without some sort of approval chain. Similarly, you can create allow lists so that regular transactions can go through more easily.
Behind the scenes, Curv uses multi-party computation to handle private keys. When you create a wallet, cryptographic secrets are generated on your device and on Curv’s servers. Whenever you’re trying to initiate a transaction, multiple secrets are used to generate a full public and private key.
Secrets are rotated regularly and you can’t do anything with just one secret. If somebody steals an unsecured laptop, a hacker cannot access crypto funds with the information stored on this device alone.
As you can see, Curv isn’t a cryptocurrency wallet for end users. The company offers its services to exchanges, brokers and over-the-counter desks. If you’re running a fund and you plan on buying a large amount of cryptocurrencies, you could also consider using Curv.
Finally, financial institutions that are looking for a solution to store digital assets and diversify their balance sheet could also work with Curv.
PayPal says that the Curv team will join the cryptocurrency group within PayPal. The payment giant has been gradually rolling out cryptocurrency products. It has partnered with Paxos so that users in the U.S. can buy, hold and sell cryptocurrencies from their PayPal account.
In the near future, PayPal also plans to let you buy and sell items using cryptocurrencies. During its most recent earnings release, the company also said that it plans to launch cryptocurrency products in other countries and in Venmo, the consumer fintech super app owned by PayPal.
Terms of the deal are undisclosed and the transaction should close at some point during the first half of 2021. Calcalist reported that PayPal was paying between $200 million and $300 million for the acquisition. A person close to the company says that the transaction was under $200 million. I guess we’ll find out what happened exactly in the next earnings release.
Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product-market fit, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included for audience questions and discussion.
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Making sense of the $6.5B Okta-Auth0 deal
When Okta announced that it was acquiring Auth0 yesterday for $6.5 billion, the deal raised eyebrows. After all, it’s a substantial amount of money for one identity and access management (IAM) company to pay to buy another, similar entity. But the deal ultimately brings together two companies that come at identity from different sides of the market — and as such could be the beginning of a beautiful identity friendship.
The deal ultimately brings together two companies that come at identity from different sides of the market — and as such could be the beginning of a beautiful identity friendship.
On a simple level, Okta delivers identity and access management (IAM) to companies who use the service to provide single-sign-on access for employees to a variety of cloud services — think Gmail, Salesforce, Slack and Workday.
Meanwhile, Auth0 is a developer tool providing coders with easy API access to single-sign-on functionality. With just a couple of lines of code, the developer can deliver IAM tooling without having to build it themselves. It’s a similar value proposition to what Twilio offers for communications or Stripe for payments.
The thing about IAM is that it’s not exciting, but it is essential. That could explain why such a large number of dollars are exchanging hands. As Auth0 co-founder and CEO Eugenio Pace told TechCrunch’s Zack Whittacker in 2019, “Nobody cares about authentication, but everybody needs it.”
Putting the two companies together generates a fairly comprehensive approach to IAM covering back end to front end. We’re going to look at why this deal matters from an identity market perspective, and if it was worth the substantial price Okta paid to get Auth0.
Halt! Who goes there?
When you think about identity and access management, it’s about making sure you are who you say you are, and that you have the right to enter and access a set of applications. That’s why it’s a key part of any company’s security strategy.
Gartner found that IAM was a $12 billion business last year with projected growth to over $13.5 billion in 2021. To give you a sense of where Okta and Auth0 fit, Okta just closed FY2021 with over $800 million in revenue. Meanwhile Auth0 is projected to close this year with $200 million in annual recurring revenue.
Image Credits: Gartner
Among the top players in this market according to Gartner’s November 2020 Magic Quadrant market analysis are Ping Identity, Microsoft and Okta in that order. Meanwhile Gartner listed Auth0 as a key challenger in their market grid.
Michael Kelly, a Gartner analyst, told TechCrunch that Okta and Auth0 are both gaining something from the deal.
“For Okta, while they have a very good product, they have marketing muscle and adoption rates that are not available to smaller vendors like Auth0. When having [IAM] conversations with clients, Okta is almost always on the short list. Auth0 will immediately benefit from being associated with the larger Okta brand, and Okta will likewise now have credibility in the deals that involve a heavy developer focused buyer,” Kelly told me.
Okta co-founder and CEO Todd McKinnon said he was enthusiastic about the deal precisely because of the complementary nature of the two companies’ approaches to identity. “How a developer interacts with the service, and the flexibility they need is different from how the CIO wants to work with [identity]. So by giving customers this choice and support, it’s really compelling,” McKinnon explained.
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Square buys majority of Tidal, adds Jay-Z to its board in bid to shake up the artist economy
This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, worth some $297 million, will allow artist-partners to keep their ownership in the music company.
Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. Dorsey seemed to expect the transaction to generate skepticism — which it definitely has. In his opening message, he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!”
Why indeed. Dorsey’s expectation is that his company can replicate the success of Cash App and other Square products in the world of music. Noting that “new ideas are found at the intersection,” Dorsey argued that the confluence of “music and the economy” is one such point of convergence.
The deal also installs musician and businessperson Jay-Z on Square’s board.
Some early reaction to the deal has proved negative. It’s not hard to riff on the seeming strangeness of Square and Tidal as a pair. And Square has made acquisitions in the past that appeared adjacent and failed to stick. The company bought food-delivery service Caviar in 2014 before selling it to DoorDash in 2019, for example; that Square appears to have made a venture-level return on the transaction is immaterial to the focus argument.
But the bull-case for the Square-Tidal tie-up is easy to make as well. The American fintech just spent a minute fraction of a single percent of its market capitalization on the smaller company, and through its choice to let artists keep their stake, has effectively onboarded a host of ambassadors for its brand.
And Dorsey is not wrong that Square did shake up the commerce game for many offline businesses with its original card reader. Why not take a swing at a part of the economy — music — that has migrated from the physical world to the digital in the past few years, much like small businesses in recent quarters?
Square’s business users, its “seller ecosystem,” as it likes to call it, are increasingly digital. In its most recent quarterly earnings report, “in-person only” usage is falling as a percentage of seller gross payment volume (GPV), while “online only” and “omnichannel” GPV are taking up the slack.
Square has a known win in its consumer-focused Cash App service, which reached 36 million monthly actives in December of 2020, up from 24 million in the same period one year prior. You can imagine tie-ups between the music company and the youth-skewing Cash App audience. And having Jay-Z at the Square boardroom table will hardly make the company less innovative; he may bring fresh perspective.
And then there’s the question of NFTs, or non-fungible tokens, a new form of digital asset that have recently become the cause célèbre of the cryptocurrency community. Given that Square has a growing cryptocurrency business via Cash App, and has invested hundreds of millions of dollars into bitcoin itself. If there is space in the market for Square to bring music-based NFTs to its larger consumer user base is an interesting question. If the answer is yes, Square could now be in a leading position to create that market.
Perhaps the Square-Tidal deal won’t generate the future growth that Square imagines. But the deal is cheap, snagging Jay-Z as a leader is a win and it’s hard to win by only playing corporate defense.
Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product market fit, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included for audience questions and discussion.
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Okta acquires cloud identity startup Auth0 for $6.5B
As Okta announced earnings today after the bell, it revealed that it’s buying cloud identity startup Auth0 for a hefty $6.5 billion. The company had a valuation of $1.92 billion when it raised $120 million led by Salesforce Ventures last July.
With Auth0, Okta gets a cloud identity company that helps developers embed identity management into applications, adding an entirely new dimension to its identity platform. Okta co-founder and CEO Todd McKinnon says the acquisition gives his company broad coverage in the identity space and the acquisition has the power to lift identity to a first-class cloud category along with infrastructure, enterprise software like collaboration and CRM and others.
“There are a few other [primary cloud categories], but one of those has to be identity. And for identity to rise to that status, it has to cover all the use cases. It’s got to be both workforce and customer. So workforce [has been] our [primary] business traditionally, and customer is newer,” McKinnon told me.
The customer piece involves having your customers use Okta/Auth0 on the back end to sign onto your platform, rather using it as just your corporate credentials. Having coverage across both areas is what has McKinnon so excited.
Eugenio Pace, co-founder and CEO Auth0 sees his company together with Okta as powerful combination in the identity management space, and he’s not just hyping the deal when he says that. “Together, we can offer our customers workforce and customer identity solutions with exceptional speed, simplicity, security, reliability and scalability. By joining forces, we will accelerate our customers’ innovation and ability to meet the needs and demands of consumers, businesses and employees everywhere,” Pace said in a statement.
Pace and co-founder Matias Woloski came from Microsoft where they worked until launching their startup in 2013. As McKinnon points out this is a substantial company with 800 employees. It is expected to reach $200 million in revenue this year.
“So they have this mindset of building a service that is flexible and API-driven and great tools for developers and all the extensibility or customizability, that developers would need. And you can’t, you can’t do that later, you have to start from the beginning
McKinnon says while they share some common customers, there will be net new ones as well and the nature of the two companies coverage areas means that they can sell Auth0 into traditional Okta customers and vice versa. The combined entities could fill in a soup-to-nuts kind of identity offering.
As Pace told TechCrunch’s Zack Whittaker in 2019, it has always been focused on developers:
“We’re not profitable because we’ve chosen to reinvest and continue to sustain the high scale of growth,” he said. “But we are more efficient every day — in the way we acquire customers, the way we service customers, in the way we ship new design capabilities.”
The question is how much this will change under the Okta, but Auth0 users can breathe a sigh of relief in that McKinnon says that the company will operate as an independent unit inside of Okta as they look for paths to integration in the coming months. What’s more, McKinnon says he has a relationship with the two founders going back years and it sounds like there is an element of trust there.
Okta had a pretty good quarter too while it was at it, announcing $234.7 million in revenue up 40% year over year, but Wall Street appears to be unhappy with the deal with the stock price down 6.9% in after hours trading.
Auth0 was founded in 2013 and raised over $300 million along the way. In addition to Salesforce Ventures, other investors included Sapphire Ventures, Bessemer Venture Partners and Meritech Capital Partners.
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Zynga acquires Echtra, maker of Torchlight 3, to double down on RPG games
Games company Zynga has been on an acquisition tear the last several years to beef up its activity, in particular in mobile and casual-puzzle games, spending over $3 billion to pick up a range of startups across Europe (specifically Turkey and Finland) in the process. Today, however, it’s taking a turn toward more immersive, highly graphic cross-platform experiences. The company has announced that it is acquiring San Francisco’s Echtra Games, the role-playing game publisher behind Torchlight III, which is available on Steam, XBox One, PS4 and Nintendo Switch.
The team will be working on releasing a new title in partnership with Zynga’s NaturalMotion studio, the company said. No other details on that were released for now.
Financial terms of the deal were not disclosed. It’s also not clear who backed Echtra, if anyone.
But Echtra is in some ways a classic example of a gaming startup built out of a burning idea, rather than cold, calculated moneymaking — perhaps the best kind of company you can have.
Max Schaefer, the co-founder and CEO, had previously been at Runic Games, the developer of the original Torchlight series, as well as Diablo and others. Runic was shuttered by its owner, Perfect World, and so in 2016, Schaefer went on to form a new company, Echtra, with some of his Runic colleagues and others in the industry because he saw more life left in the franchise.
That perhaps didn’t play out as well as Echtra had hoped, though. After the game exited early access into general availability, it received mixed reviews, some of the criticism leveled at how the game was built, and some because of bugs.
The plan will be to bring on Echtra’s team and expertise, potentially to continue building the franchise, but more generally to help Zynga build out more of a footprint in cross-platform games, and also gaming technology, in particular around tools built on Unreal Engine, the platform of choice at the moment for RPG and other immersive applications.
“Max and his team at Echtra Games are responsible for some of the most legendary game properties ever created, and they are experts in the action RPG genre and cross-platform development. I’m excited to welcome the Echtra Games team into the Zynga family,” said Frank Gibeau, chief executive officer of Zynga, in a statement. “This acquisition will be instrumental in growing our iconic licenses and brands from mobile to PCs and consoles, while helping to further expand Zynga’s total addressable market.”
“Echtra Games is delighted to be joining the Zynga family,” added Max Schaefer. “We share Zynga’s vision that cross-platform play is an essential part of the future of RPGs and interactive entertainment and are eager to apply our vast experience and talents to this effort.”
Gaming has been one of the bright spots in the last year — no surprise, since people are spending so much more time indoors and at home because of the pandemic. Zynga, as a consequence of that, has also been on a roll in recent times, with its fourth-quarter earnings, released last month, beating analyst expectations. Its revenues of $616 million are the highest-ever quarterly bookings posted by the company. Acquisitions are a major part of its strategy these days, the company said at the time.
Going for more immersive RPG titles outside of mobile is an ambitious and potentially more expensive undertaking and is a very notable swerve away from the company’s acquisitions in recent years, which have included a majority stake in Turkey’s Rollic for $228 million, Peak for $2.1 billion, 80% of Small Giant Games for $718 million; and Gram Games for $299 million.
Early Stage is the premier “how-to” event for startup entrepreneurs and investors. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company building: Fundraising, recruiting, sales, legal, PR, marketing and brand building. Each session also has audience participation built-in — there’s ample time included in each for audience questions and discussion.
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Atlassian is acquiring Chartio to bring data visualization to the platform
The Atlassian platform is chock full of data about how a company operates and communicates. Atlassian launched a machine learning layer, which relies on data on the platform with the addition of Atlassian Smarts last fall. Today the company announced it was acquiring Chartio to add a new data analysis and visualization component to the Atlassian family of products. The companies did not share a purchase price.
The company plans to incorporate Chartio technology across the platform, starting with Jira. Before being acquired, Chartio has generated its share of data, reporting that 280,000 users have created 10.5 million charts for 540,000 dashboards pulled from over 100,000 data sources.
Atlassian sees Chartio as way to bring that data visualization component to the platform and really take advantage of the data locked inside its products. “Atlassian products are home to a treasure trove of data, and our goal is to unleash the power of this data so our customers can go beyond out-of-the-box reports and truly customize analytics to meet the needs of their organization,” Zoe Ghani, head of product experience at platform at Atlassian wrote in a blog post announcing the deal.
Chartio co-founder and CEO Dave Fowler wrote in a blog post on his company website that the two companies started discussing a deal late last year, which culminated in today’s announcement. As is often the case in these deals, he is arguing that his company will be better off as part of large organization like Atlassian with its vast resources than it would have been by remaining stand-alone.
“While we’ve been proudly independent for years, the opportunity to team up our technology with Atlassian’s platform and massive reach was incredibly compelling. Their product-led go to market, customer focus and educational marketing have always been aspirational for us,” Fowler wrote.
As for Chartio customers unfortunately, according to a notice on the company website, the product is going to be going away next year, but customers will have plenty of time to export the data to another tool. The notice includes a link to instructions on how to do this.
Chartio was founded in 2010, and participated in the Y Combinator Summer 2010 cohort. It raised a modest $8.03 million along the way, according to Pitchbook data.
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Why F5 spent $2.2B on 3 companies to focus on cloud native applications
It’s essential for older companies to recognize changes in the marketplace or face the brutal reality of being left in the dust. F5 is an old-school company that launched back in the 90s, yet has been able to transform a number of times in its history to avoid major disruption. Over the last two years, the company has continued that process of redefining itself, this time using a trio of acquisitions — NGINX, Shape Security and Volterra — totaling $2.2 billion to push in a new direction.
While F5 has been associated with applications management for some time, it recognized that the way companies developed and managed applications was changing in a big way with the shift to Kubernetes, microservices and containerization. At the same time, applications have been increasingly moving to the edge, closer to the user. The company understood that it needed to up its game in these areas if it was going to keep up with customers.
Taken separately, it would be easy to miss that there was a game plan behind the three acquisitions, but together they show a company with a clear opinion of where they want to go next. We spoke to F5 president and CEO François Locoh-Donou to learn why he bought these companies and to figure out the method in his company’s acquisition spree madness.
Looking back, looking forward
F5, which was founded in 1996, has found itself at a number of crossroads in its long history, times where it needed to reassess its position in the market. A few years ago it found itself at one such juncture. The company had successfully navigated the shift from physical appliance to virtual, and from data center to cloud. But it also saw the shift to cloud native on the horizon and it knew it had to be there to survive and thrive long term.
“We moved from just keeping applications performing to actually keeping them performing and secure. Over the years, we have become an application delivery and security company. And that’s really how F5 grew over the last 15 years,” said Locoh-Donou.
Today the company has over 18,000 customers centered in enterprise verticals like financial services, healthcare, government, technology and telecom. He says that the focus of the company has always been on applications and how to deliver and secure them, but as they looked ahead, they wanted to be able to do that in a modern context, and that’s where the acquisitions came into play.
As F5 saw it, applications were becoming central to their customers’ success and their IT departments were expending too many resources connecting applications to the cloud and keeping them secure. So part of the goal for these three acquisitions was to bring a level of automation to this whole process of managing modern applications.
“Our view is you fast forward five or 10 years, we are going to move to a world where applications will become adaptive, which essentially means that we are going to bring automation to the security and delivery and performance of applications, so that a lot of that stuff gets done in a more native and automated way,” Locoh-Donou said.
As part of this shift, the company saw customers increasingly using microservices architecture in their applications. This means instead of delivering a large monolithic application, developers were delivering them in smaller pieces inside containers, making it easier to manage, deploy and update.
At the same time, it saw companies needing a new way to secure these applications as they shifted from data center to cloud to the edge. And finally, that shift to the edge would require a new way to manage applications.
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Canva acquires background removal specialists Kaleido
Kaleido, makers of a drag-and-drop background removal service for images and video, have been acquired by up-and-coming digital design platform Canva. While the price and terms are not disclosed, it is speculated that this young company may have fetched nearly nine figures.
It’s the right product at the right time, seemingly. In 2019, the Vienna-based Kaleido made remove.bg, a quick, simple, free and good-enough background removal tool for images. It became a hit among the many people who need to quickly do that kind of work but don’t want to fiddle around in Photoshop.
Then late last year they took the wraps off Unscreen, which did the same thing for video — a similar task conceptually, but far more demanding to actually engineer and deploy. The simplicity and effectiveness of the tool practically begged to be acquired and integrated into a larger framework by the likes of Adobe, but Canva seems to have beaten the others to the punch.
Image Credits: Unscreen
The acquisition was announced at the same time as another by Canva: product mockup generator Smartmockups, suggesting a major product expansion by the growing design company.
“We completely bootstrapped Kaleido with no investors involved from day one,” said co-founder and CEO of Kaleido, Benjamin Groessing, in a press release. “It has just been two founders and an incredible team. We’ve been profitable from the start — so this acquisition wasn’t essential for our existence. It just made sense on so many levels.”
The company declined to provide any further details on the acquisition beyond that the brand and name are expected to survive — at least Unscreen, which makes perfect sense as a product name even under another company.
German outlets Die Presse and Der Brutkasten cited sources putting the purchase “reiht sich dahinter ein” or in the same rank as the largest Austrian exits (the largest of which was Runtastic at €220 million), though still in the two-digit millions — which suggests a price approaching $100M.
Image Credits: Kaleido
Whatever the exact amount, it seems to have made the team very happy. And don’t worry — they put that image together using their own product for each person.
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