On February 20, ODEO wrote on their blog that they were looking for a new home. ODEO was owned by Obvious.com, who are the same creators of Twitter. Obvious is focused on Twitter and that company is doing very well so letting go of ODEO was not a very hard decision.
ODEO was specifically acquired by SonicMountain, a New York-based startup company. TechCrunch reported that the price was not disclosed, but the amount is reportedly above $1 million in cash. The founder of ODEO and Obvious.com, Evan Williams will be working at SonicMountain as an advisor for 6 months. going forward.
ODEO has had a rocky past. The company previously raised $5 million in funding from Charles River Ventures and a few other angel investors.
After that, Evan Williams didn’t like the idea of having investors, so they bought the company back. The amount that they paid back for the company is rumored to be above the $5 million.
Congratulations to Obvious.com and SonicMountain.
