Report: Boxee Was Acquired
Boxee is a cross-platform home theater PC software application that can stream videos. It also has has social networking features that lets users view and rate content. According to VentureBeat, Boxee has been acquired, but we have no idea by who. Boxee was reportedly seeking a potential buyer after trying to raise a new round of funding.
Boxee tried multiple business models. They switch from providing open-source software for desktops/TVs to a Boxee TV and cloud DVR storage service. The Boxee TV offered access to Netflix, Vudu, and Spotify apps.
Boxee was looking for an acquisition over the last few months, but buyers were not as interested as they hoped. The price of the acquisition was reportedly lower than what they were hoping for. Boxee raised around $26.5 million in funding and they were considering another $30 million before pursuing an acquisition.
VentureBeat speculates that the buyers could be Cisco or D-Link. Stay tuned for updated information about the acquisition as we hear about it.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry