Google acquired the mobile data sharing app Bump for at least $30 million. The acquisition rate could even be close to $60 million according to some sources.
Bump was taken over by Google for a price that probably hovers between $30 million and $60 million. The setup had collected funds amounting to $20 million from sponsors such as Sequoia Capital and Andreessen Horowitz. The foundation stone of Bump was laid half a decade ago. It manufactured its must-have application for the iPhone which allowed file transmission between two phones by merely bumping them together.
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The app set a record of being downloaded a 100 million times by many users. Through the times the company has changed radically. It even came out with a collective picture-sharing app termed Flock a year ago. This turned out to be quite a popular application indeed. It made it to the list of top ten apps in over 50 nations worldwide.
Bump CEO and co-founder David Lieb announces officially in blog statement, “We’re excited to announce that the Bump team is joining Google! Our mission at Bump has always been to build the simplest tools for sharing the information you care about with other people and devices. We strive to create experiences that feel like magic, enabled behind the scene with innovations in math, data processing, and algorithms. So we couldn’t be more thrilled to join Google, a company that shares our belief that the application of computing to difficult problems can fundamentally change the way that we interact with one another and the world. Bump and Flock will continue to work as they always have for now; stay tuned for future updates.”
Despite the fact that now Google virtually owns Bump, the CEO David Lieb spoke of how Bump and Flock would carry on business as usual for now. This may be an evasive statement that hides the truth behind the terms of the acquisition. Meanwhile, a Google spokesperson said that the people at Bump were an innovative lot and that they’d fit right in the environment at Google in a jiffy.
The technology created by Bump had allowed contraptions to mutually transfer information swiftly and easily. And the good thing was that this didn’t require Near-Field Communication (NFC). Bump did manage to collect some funds but its business was not going so well. So the acquisition by Google has proved to be a parachute of sorts for the startup.