Neomedia has sold 12Snap back to its management incl co-founder Birkel for $5m (remuneration is $1.1m cash plus debt, services, etc), reports PR Newswire.
That means that Neomedia wiped out a cool $17m value in little more than a year: you may remember they acquired 12snap for $22m early 2006.
All the very best to the good folks of 12snap!!!
2007-04-05
12Snap back at home...
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To clarify: I didn't say NeoMedia wasn't going anywhere, and it is good to hear that things are going well for you. I merely noted that you didn't seem to have had a lucky streak with 12Snap (acquired for $22m, sold for $5m after one year).
ReplyDeleteAll the best to the good folks at Qode and NeoMedia!