Press for GroupMe

Oh what a difference a year can make.
In November 2010, 20-somethings Jared Hecht and Steve Martocci had a three-month-old group-texting startup with five employees. Less than a year later, they have been bought by Skype for a reported $85 million. It’s undoubtedly been a whirlwind, and their story of triumph is at the heart of New York City’s growing tech scene.

GroupMe was recently acquired by Microsoft/Skype for over $50 million. It’s a great sign that if you build a great app and company around it, you can still be acquired for a ton of money even if you don’t make a single dollar in revenue. The company doesn’t seem to have slowed down after its acquisition though and has announced version 3.0 which includes availability in Canada. Click through for more details.

Jared Hecht and Steve Martocci, co-founders of GroupMe Inc., talk about Skype's agreement to acquire the company. They speak with Emily Chang on Bloomberg Television's "Bloomberg West."

Skype is buying year-old group-messaging startup GroupMe TechCrunch reports.  Tricia Duryea at All Things D says the buyout price is $85 million.