Back in April, when mobile crash reporting startup Crashlytics announced it had raised $5 million, it dropped another tidbit: it had passed on an acquisition offer, a notable milestone given the company’s youth. But some offers are too good to pass up, and nine months later the company has announced that it has ‘merged’ with Twitter (or been acquired in Twitter’s phrasing).
we’re excited to announce: we’re merging with Twitter to take our platform to an entirely new level! … With today’s announcement, much will remain the same. Development of Crashlytics will continue unabated and we remain dedicated to working with all of our customers – current and new, big and small – to deliver the key app performance insights they need.
Founders Wayne Chang and Jeff Seibert will remain at the company, but no word yet on the terms of the deal or on where the team will be working from going forward. I’ve reached out to Wayne with both questions and will update with anything new I hear.
UPDATE: David Aronoff of Flybridge, who led both the company’s seed and Series A rounds, has a post on his blog with some notable comments on the deal:
The entire Crashlytics team will remain intact and the Crashlytics product will continue to be developed. The founders will have significant roles within Twitter as well. While the purchase price was not disclosed, this was a tremendous outcome for the employees and investors…
As a great example of a lean startup, they raised a $1M seed financing and a $5M Series A – and spent only 1/3 of it all by the time of the acquisition…
When Twitter came knocking, we discovered that the teams and cultures matched remarkably well. It was clear that Twitter shared our vision for the future and together the opportunity to grow was just too good to pass up.