Startup with big funding bought Color.com for $350,000 in December.
In December I wrote about a GoDaddy-brokered sale of Color.com for $350,000.
We now know the buyer — a hot photo sharing startup with $41 million in funding from Sequoia Capital, Bain Capital, and Silicon Valley Bank before it even launched.
Jason Kincaid of TechCrunch describes it as a location-based twitter for photos. Here’s one scenario he describes:
Say you walk into a restaurant with twenty people in it. You sit down at a table with four friends, and start chatting. Then one of your friends pulls out their phone, fires up Color, and takes a snapshot of you and your buddies.
That photo is now public to anyone within around 100 feet of the place it was taken. So if anyone else in the restaurant fires up Color, they’ll see the photograph listed in a stream alongside other photos that have recently been taken in the vicinity.
I like the choice of Color.com for this company. On the downside the word is spelled differently across the pond. [Update: they also acquired Colour.com, which means these guys are even smart than I thought. Sedo auctioned Colour.com last month. It didn’t hit the reserve but got up to $83,000. It looks like the got control of Colour.com around March 1.] But the upside is it’s a branded generic. The company will be able to earn trademark rights in the term given that it’s using it for distinct use (it’s not a site about colors).
Also, I just noticed that DotWeekly uncovered a while back that Color.com founder Bill Nguyen was the likely buyer. Now we know what he was up to.
This will be an interesting one to watch.
Jeff Schneider says
This is good news for Direct Navigation.
We feel just the name by itself will have to be heavily branded and is rather directionless, in causing a call to action.
Still good news, for DOMAINERS
Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)
They also bought Colour.com and using it. Wonder how much that was for?
Good Domain Names says
Two beautiful domains. Always wondered why not somebody like Pantone made use of them.
Thanks for the link Andrew.
Bill’s comment in my article back in early December made me laugh:
“I bought it, so what?”
He posted that on New Year’s Day.
Steve M says
Interesting Color.com article in today’s L.A. Times: http://www.latimes.com/business/la-fi-social-photos-20110324,0,7658494.story
How can you verify Bill would waste his time posting on your D rate blog?
D rate blog… that’s a new one! Thanks for the complement.