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Just 370 days after its launch, GroupMe was acquired by Skype for $85 million over the weekend.Taking the money was a pretty smart move by GroupMe’s cofounders Steve Martocci and Jared Hecht.
That’s because after just a year of development, GroupMe is still just a feature – not a stand alone product.
It can be easily replicated by any company with time and resources.
And guess what?
The three scariest companies in tech, Apple, Facebook, and Google, all launched GroupMe clones this summer.
So GroupMe’s Martocci, Hecht and team: we commend you. You pushed really hard for a year, realised the limitations of what you built, and found a strategic buyer. Now you can serve your time work a few years at Skype and daydream about the startup you’ll create next.
Also, there’s the $85 million. That’s pretty nice too.