Microsoft Acquires JellyFish

October 2nd, 2007 at 12:00 am
 


jellyfish

"Jellyfish is an online shopping website that enables shoppers to search & compare prices for specific products with cash-back plan. Jellyfish platform is a reverse auction where buyers bid on reducing prices and the bet is placed on timing of an order and buyers do not have information about the quantity at the given price." (Daksh Sharma, Rev2.org)

Microsoft has acquired this service known as jellyfish for an undisclosed amount. The reason for the acquisition is also unclear but Jellyfish seemed to be going well with their funding and steady user growth. However, in the world of startups, when one of the giant three come knocking to buy you out, you might as well cash in while you can.

Jellyfish will retain its structure, identity and products and Microsoft will be their oversight. The employees are also safe and will be integrated in to the Microsoft family including their 2 founders Brian Wiegand and Mark McGuire.

For Wiegand, this is the 3rd company he has sold since 2002. Lucky guy.