Social Networking site Plaxo for Sale: Report
Posted on Thu, 3 Jan 2008 08:24:38 CST | by Luigi Lugmayr
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NEW YORK (Reuters) - Plaxo, an early social networking site that has been
overtaken by Linked In and Facebook, is up for sale, The New York Times reported
on Thursday in its online edition.
Quoting people briefed on the offering, the report said Plaxo was seeking as
much as $100 million, and that it has hired Revolution Partners to handle the
auction.
Plaxo has taken over $20 million in funding to date from backers including
Sequoia Capital and DAG Ventures.
The company helps users synchronize address books and calendar data. When a
phone number of someone's contact changes it automatically updates in contact
address books.
Plaxo said in mid-2007 that it had signed up more than 15 million users,
although the number of currently active users is unknown.
(Reporting by Ritsuko Ando)
© Copyright 2007 Reuters.
Posted on Thu, 3 Jan 2008 08:24:38 CST | by Luigi Lugmayr
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