Plaxo Not Sold (Yet)

There’s a new blog rumor that social networking company Plaxo has been sold to Google for approximately $200 million, but peHUB has learned that no such agreement has been signed.

A source close to the process says that Plaxo is in advanced negotiations with several suitors — including Google — and that a final decision may be made within the next several days. “Google looks like it may be in the pole position, but it really could go a bunch of different ways,” the source says. “There is no news yet.”

Yahoo is not among the hopeful buyers, despite having approached Plaxo about an acquisition two years ago.

Mountain View, Calif.-based Plaxo is currently cash-flow positive, and has raised around $23 million in VC funding since 2002. Investors include Sequoia Capital, Globespan Capital Partners, DAG Ventures, Cisco Systems and Harbinger Venture Management.

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