Apple is reportedly acquiring Color, a two-year-old startup that specializes in media sharing from smartphones.
Color started off as an iPhone exclusive network for sharing photos that enabled users to share photo albums with other users in their vicinity. It then evolved into a media sharing network across iOS and Android devices and currently enables users to live stream videos over Facebook. The startup failed to live up to its initial hype and it has been a tumultuous couple of years as the team kept reiterating on their original product.
TNW reports it has learned from its “well placed sources” that Color Labs founder, Bill Nguyen approached Apple’s Senior Vice President for Internet Software and Services, Eddy Cue, for a potential sale. Apple is said to have snapped it for high double digits (in millions) though the paperwork is yet to be signed. Nguyen is said to have been away for the last three months with soured relationship with his board and was already looking for a buyer for sometime now. He made his team create prototype apps to show to Cue and other potential buyers to hawk his team’s capabilities. Those apps were then abandoned.
While Apple maintains supremacy when it comes to hardware, its online services capabilities remain questionable. Ping, a sort of social network for iTunes, was a failure and was shut down recently. Even iCloud is far from perfect and users remain skeptical of using it as their primary device backup and sync service.
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