It's been just nine months since Twango launched its free online photo and video sharing service. But in that short period, the Redmond startup has attracted tens of thousands of users and the attention of one very large mobile phone company.
Twango decided to sell, rather than going it alone, because of the financial wherewithal and distribution power of Nokia. It also wanted to allay concerns of customers who use Twango's photo and video service.
This isn't the first time that Nokia has purchased a Seattle area Internet company. Last summer, it completed a $60 million buyout of digital music service Loudeye.
Interestingly, the sale of Twango marks the third Seattle area Internet company – operating from a home office with little outside investment capital – that has been sold to a publicly-traded firm in the past five days. Late last week, Vashon Island's Recipezaar was sold to E.W. Scripps and Bellevue's PremierGuide was sold to Local.com.
Source: seattlepi
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