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Microsoft likely to acquire social news reader Prismatic for $30 million

Microsoft
reportedly plans to acquire social news reader Prismatic for $30 million,
reports
TechCrunch. Microsoft is reportedly one among several large companies

Microsoft
reportedly plans to acquire social news reader Prismatic for $30 million,
reports
TechCrunch. Microsoft is reportedly one among several large companies
that are talking to the startup.
Prismatic has also been in talks with Apple
Inc., Yahoo Inc, Google Inc. and Facebook Inc.

Based in San
Francisco, Prismatic offers what it describes as a “social recommendation
network that helps you keep up with all the things you care about.” Prismatic, the
consumer-focused news reader made for iOS, Android and the web, recommends
content to users, using social signals and usage pattern of the app to feed its
algorithms.

According to App
Annie, the company started from a very healthy position in the top 10 of iPhone
news apps in the U.S., but over time its iPhone app has plummeted and as of
February 28 was at 758. Its overall ranking never managed to break 200. It
launched on Android last year but has only seen between 5,000 and 10,000
downloads.

Founded in
around 2011, by  Bradford Cross (CEO) and
Aria Haghighi (who left and currently works for Apple), Prismatic has raised
funds in Series A round in December 2012 of $15 million from investors Yuri
Milner, Jim Breyer and Accel Partners.

Lately, Microsoft
has been on an acquisition spree. Microsoft recently acquired
the Sunrise Calendar app for $100 million. To date, Microsoft has made just over 143 acquisitions.

 

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