Yahoo! Rumored To Be Selling Off Zimbra
According to sources with AllThingsD, Yahoo! has been considering selling off Zimbra. Zimbra is an open source e-mail company that Yahoo! bought for $350 million back in 2007. Yahoo! seems to be cutting loose a lot of their assets and properties on the open market including Zimbra. Another property Yahoo! is selling includes HotJobs.
As Yahoo! is preparing to launch a new $100 million marketing campaign, this is evidence that they are planning to slim their portfolio.
Rumor also has it that Yahoo! M&A exec Greg Mrva is responsible for selling the property. Before Yahoo! bought Zimbra, the open source e-mail web start-up was backed by Benchmark Capital, Redpoint Ventures, and Accel Partners. Zimbra founder and former CEO Satish Dharmaraj left Yahoo! left the company earlier this year to join Redpoint.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry