Acquires Clipboard And Plans To Shut It Down Next Month

salesforce Marc Benioff has inked a definitive agreement to acquire Clipboard, a startup whose service lets users save chunks of text and rich content from Web pages and share them with other users online.

Terms of the deal weren’t disclosed. But AllThingsD‘s Liz Gannes, citing an anonymous source, said that paid between $10 – $20 million for Clipboard, which launched its service last May.

Clipboard’s core engineering and design team will be moving to’s Seattle offices. They’ll report to Clipboard CEO Gary Flake, who is transitioning to a VP of engineering role at, according to an FAQ on Clipboard’s Website. Clipboard is based in Bellevue, Wash.

The Clipboard service will be shutting down for good on June 30. Until then, Clipboard says its 140,000-strong user base will be able to download their content and preserve their creations.

The reason the service will shut down is because the team couldn’t handle “building new capabilities within Salesforce” while also keeping Clipboard up and running, the Clipboard team said.

That’s probably a smart move. Clipboard has lots of competition, like Evernote, which has more than 60 million users, and even, perhaps, Pinterest, which has about 50 million.

It’s not the first such service to be acqu-hired and closed this year either.

Snip-It, a San Francisco-based startup with a service similar to Clipboard’s, was acquired by Yahoo in January and shut down the following month.¬†

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.