Color Labs To Be Acquired By Apple — thenextweb.com

Color Labs, the photo-and-video-sharing social network that received much criticism over its pre-launch $41 million funding round, is about to be acquired by Apple. We’ve heard through trusted sources that the startup was nabbed for a price that is in the ‘high double digits’, as in millions, and that the deal is ‘done’, though papers have yet to be signed. From what we know, founder Bill Nguyen has been away from the office for three months, after a period of intense strain between him and the board.

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