Printed from http://www.electronista.com

Rumor: Apple to acquire social video start up, Color Labs

updated 05:43 am EDT, Thu October 18, 2012

Apple set to close second acquisition in two months

Apple is said to be on the verge of acquiring Color Labs, a photo and video sharing social network. Color Labs was founded by Bill Nguyen who founded music streaming website Lala, which was acquired by Apple in 2009. If the report by TNW is accurate, this will be the second company Apple has acquired over the past two months, after it was reported to have acquired HTML5 specialists Particle, in a deal said to have been closed last month.

Although Color Labs has published an iOS (Free, App Store and Android app (Free, Google Play. Although it has achieved some success, Ngyuen had run into conflict with the board with rumors initially suggest that the $41 million start up was to close its doors.

Nguyen is reported to have demonstrated Color Labs technology to Apple's Eddy Cue, but no news about the outcome of this has surfaced until now. Apple is thought to be more interested in Color Labs patents and patents pending than the smartphone application implementation of the technology. Color Labs patents include a file format for HD video as well as six patents pending on social sharing, GPS location and battery saving capabilities.

It may roll these capabilities into the iPhone, rather than include a separate application to achieve similar functionality. It has successfully integrated Facebook and Twitter into iOS, with users enjoying the sharing and social networking functions of those applications without having to launch either app separately. Color Labs video streaming and photo sharing capabilities could be integrated in the same way, which might also help to steer iPhone users away from YouTube if it becomes popular enough.

Although not confirmed, Apple is said to have offered Color Labs a multimillion-dollar deal said to be worth in the "high double digits." This is thought to be enough pay out investors while also offering them a significant return on their initial investment.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News