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September 17, 2007

Yahoo To Pay $350M For Zimbra

No sooner do we publish a post indicating that Wall Street wants Yahoo to scale back spending and figure out a new strategy and the company is caught doing another M&A deal. This time Yahoo is buying white-label open-source emai/online calender/collaboration tool maker Zimbra for a reported $350M.

There are no flies on Zimbra. In fact, last May we added the company to our Mojo Found list for its deal with Comcast where Comcast email users would get to use Zimbra.

In April 2006, Zimbra won $14.5M in strategic series C funding led by Duff Ackerman & Goodrich with Sumitomo in as well. Existing investors Benchmark Capital, Accel Partners, Redpoint Ventures and Inventures Group were also back in the round.

Read - Zimbra blog announcement

Posted on September 17, 2007 04:54 PM | Posted to Web 2.0 | Permalink

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