Fango’s Mystery Acquisition
September 14, 2011
Last Thursday night as Tech Cocktail hosted it’s Gadget and Mobile mixer with Samsung Mobile, hundreds of attendees tweeted out why they needed a new phone in hopes of winning a new Galaxy SII or other Samsung device.
One tweet in particular caught my eye…
FanGo tweet about the acquisition
Yes, Founder and CEO Collin Wallace let it out of the bag that FanGo has been acquired.
When I asked him for more information, Wallace stated that he could not yet disclose any details about the company or the amount. The trench coat he was wearing seemed very apropos as he kept a tight lip and an air of mystery about the situation. Upon further pressing I did learn this is likely a very good deal for the Excelerate Labs graduate startup, with some investors getting 20x returns and the founder himself getting over 7 figures… enough of a return that he doesn’t have to work again if he chooses not to. Based on our observations, we suspect this entrepreneur won’t be resting on his laurels.
It’s worth noting Wallace was lucky enough to also win a Samsung device that night as shown here. We’ll report back more details as they are available.
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