New York Tech Has Officially Exploded

Mike Lazerow Buddy Media

Photo: Daniel Goodman / Business Insider

New York has finally made the startup big leagues.No, it hasn’t produced any Facebook or Google-sized tech IPOs, but it’s producing startups that are nearing $1 billion+ size exits.

According to SeedTable, more than 40 New York startups have been acquired this year.

But four very big New York startup acquisitions this year have amassed more than $2 billion combined.

  • OMGPOP was acquired by Zynga after it’s smash Draw Something hit for $210 million
  • Buddy Media was acquired by Salesforce for $689 million (some reported $800 million)
  • SinglePlatform was acquired by Constant Contact for $100 million in cash, employee incentives and stock
  • Indeed was acquired for an undisclosed amount that’s likely in the $750 million to $1 billion range. Sure, it’s technically based in Stamford, CT, but it’s a commutable, NYC suburb and it has a big NYC office.

If you count Kayak’s $1 billion July IPO (even though it’s technically a commutable distance from NYC) then we’re talking $3 billion.

On the smaller scale, we have:

  • Venmo, a payment company that was acquired by Braintree for $26.2 million
  • Felix, the profitable portion of Yext, was acquired for $30 million by IAC (strategic acquisition to fund Yext’s PowerListings business) 
  • savoured, a reservation website with last-minute discount prices, was acquired by Groupon (likely a soft landing/acqui-hire)
  • Svpply was acquired by eBay (likely a soft landing/acquihire)

Not to mention there’s Etsy, AppNexus, and others which are rapidly approaching billion-dollar valuations.

Awesome.

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