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Xobni (inbox spelled backwards) , the email inbox management tool in which First Round Capital was an early investor, sold to Yahoo today, Xobni announced on its website. The deal had been rumored to be in the works weeks earlier.
At issue was the price for which it was sold. Early reports put the price at $30 million, or alternatively, $30 to $40 million. The company had received VC investments totaling about $42 million.
But later today TechCrunch reported that the deal included total considerations of about $60 million. Of course, total considerations can include many things including earnouts of uncertain achievability. But even if the price was $60 million, it likely meant that most investors hardly broke even, if at all, from an IRR perspective.
Update: Update: Xobni Price Paid by Yahoo Was $48 Million in Cash, Plus Possible Earn-Outs (All Things D)
In which Kara Swisher admits being wrong.