Friday, October 19, 2012

What’s Really Going on With Color: A Small Apple Talent Acquisition

"You’d be forgiven if you were confused by the swirl of stories around the social video start-up Color in the past 24 hours.

 First, a leaked internal memo said the company was winding down. Then we were told that Color was not shutting down (and further, that some at the company had no idea where the memo came from — turned out it was from the VP of finance). Then Color was being bought by Apple for “high double-digits” millions.
I’ve been reporting alongside these events, and heard all these conflicting tales, too — but while I couldn’t figure out how all of them could possibly be true, I held back from writing my own story. Now, having talked with numerous people about the situation, here is a storyline that actually checks out.

What’s really happening is that Color’s engineering team — about 20 people, comprising almost the entire company — is being “acqhired” by Apple at what’s being called a “nominal” price of something like $2 million to $5 million, according to multiple sources familiar with both sides of the situation."

  CONTINUE READING at A Small Apple Talent Acquisition

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