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Venture-backed LimeLife has bought the assets of TapaTap Inc. in what apparently amounts to a shutdown of VC-backed TapaTap.
You can read the full story here, which has also posted Tuesday’s press release announcing the transaction by LimeLife. LimeLife is not hiring TapaTap’s seven employees, according to the news report.
San Mateo, Calif.-based TapaTap, which developed Web applications for its women-oriented mobile sites, had raised more than $2.5 million from Gabriel Venture Partners since 2007.
Menlo Park, Calif.-based LimeLife, which develops mobile phone games and lifestyle applications for women, has raised more than $26 million from U.S. Venture Partners, i-Hatch Ventures, Rustic Canyon Partners, Core Capital Partners and Monitor Venture Management, according to Thomson Reuters.
My theory on Super Bowl ads is not that they became the event to see in the mid-1980s when Apple launched its computer with its “1984″ ad. No, the ads became the thing in the ’90s when the games were lousy and we watched the Buffalo Bills lose four straight and there was nothing left to talk about at the watter cooler the next day except the ads.
Last decade, we also saw the rise (then the fall) of dotcom companies, which raised huge sums of capital just to launch marketing campaigns. Unfortunately, a number of the ads were sophmoric, such as Buy.com’s diddy in Super Bowl XXXIII when we saw a man sniff a dog’s rear. Clearlake Capital Group threw the company a bone two years ago when it bought the company for $20 million. This was after Buy.com raised about $200 million from Mobius Venture Capital and others. To be honest, I thought the company was out of business until I Googled them this morning.