Report: Social Site Plaxo For Sale
by
Reuters News
on
03 January 2008, 13:47
Categories:
Media
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Internet
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Finance
Topics:
acquisition
,
linkedin
,
social networking
,
plaxo
,
FaceBook
Plaxo, an early social-networking site that has been overtaken by LinkedIn and Facebook, is up for sale, The New York Times reported on Thursday in its online edition.
Quoting people briefed on the offering, the report said Plaxo was seeking as much as $100 million, and that it has hired Revolution Partners to handle the auction.
Plaxo has taken over $20 million in funding to date from backers including Sequoia Capital and DAG Ventures.
The company helps users synchronize address books and calendar data. When a phone number of someone's contact changes it automatically updates in contact address books.
Plaxo said in mid-2007 that it had signed up more than 15 million users, although the number of currently active users is unknown.