SKYPE has just acquired group texting company GroupMe for around $85 million (according to AllThingsD). Does this mean the end is near for the group texting industry as a whole?GroupMe launched a year ago among a flurry of group texting application launches including competitors like Beluga (acquired by Facebook), Yobongo, TextPlus and Fast Society. The company raised closed to $11 million in venture funding and obviously was on the right track as it brought text and group phone calls and seems a natural fit with SKYPE.
Why is this significant? Why should you care? Well, aside from the incredible amount of money they sold for, this could very well be the end of this incarnation of group chat as we know it. Will we see the other contenders like Yobongo being scooped up in the coming months? Probably now that the valuations have been set I would say so – you’d have to be a fool to walk away from that kind of offer. The real question I would ask now is, quite frankly, can group texting be a business or is this just a feature of a much larger product.
We’ll soon see.