Intel Is Buying Female-Founded Mashery
That’s according to ReadWrite, which ballparks the purchase price at $120-$180 million.
By Jessica Stillman (Editor, Women 2.0)
Last July we highlighted Mashery’s Kirsten Spoljaric as a female founder to watch due to her contribution to raising an additional $10M in venture funding for the San Francisco-based API management company. Now Spoljaric and her co-founders have more good news to celebrate – Intel is buying Mashery, ReadWrite is reporting.
The site notes that the acquisition is a big deal for Intel’s evolving business model. “The implications of the deal are huge: it signals Intel’s recognition that the central processing unit is no longer a silicon chip. It is the network,” writes Owen Thomas, who goes into much greater detail about the history and implications of the deal in the article.
Terms were not disclosed by ReadWrite notes that, “industry norms suggest that Intel likely paid two to three times Mashery’s most recent valuation—a range of $120 million to $180 million. (A Mashery spokesperson declined to comment on the company’s fundraising or the deal’s terms.)” Sources claims the company’s investors are happy with the deal.
Mashery’s employees were told about the acquisition in an email this week. The majority are expected to move to Intel’s services division.
Women 2.0 readers: What does the deal suggest to you about the future of the hardware business?
Jessica Stillman is an editor at Women 2.0 and a freelance writer with interests in unconventional career paths, generational differences, and the future of work. She writes a daily column for Inc.com and has blogged for CBS MoneyWatch, GigaOM and Brazen Careerist, among others. Follow her on Twitter at @entrylevelrebel.