“Apple ended up paying around $80 million for the company, according to multiple sources. That’s less than half of what investors were valuing the company at in 2008, but it’s more than the $35 million the company raised throughout its life. Which means that some investors could get their money back and more,” Kafka reports.
“Meanwhile the LaLa team, which should begin reporting to Apple today, gets credit for selling the company at any kind of premium at all. It’s not a home run, but it’s much better than it could have been,” Kafka reports.
“LaLa’s real asset was its technology team: In the end, Apple bought the company to get its hands on the company’s engineers, who had built a slick streaming service as well as an iPhone app that Apple has yet to approve,” Kafka reports.
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]