SubscribeApple Acquired EditGrid?
Apple4us, the leading Chinese blog on Apple, reported that Apple has acquired EditGrid, an online spreadsheets service provider in Hong Kong.
In April 2006, we profiled EditGrid when it just launched public beta test. EditGrid actually is one of my personal favorite Chinese web 2.0 services, since it kept on introducing innovative features and its good user interfaces. In June 2007, EditGrid raised a US$1.25M Series A financing from WI Harper.
David Lee, founder of EditGrid, posted an article on EditGrid’s blog on Sept 24, it may make people suspect it is dying, because it discontinue its customer support for 30 days.
I’m excited to announce that we are making some changes to our business that will allow the EditGrid Team to focus on developing new and exciting web apps. … Effective today all EditGrid.com online services will now be available for free, including our premium subscription services. … in order to focus our resources on new R&D efforts, email and forum user support for EditGrid.com shall be discontinued 30 days from now on 2009-10-24.
In crowded online office service market, EditGrid, as a stand-alone service, has little chance to make a profitable business. I’m not surprised to hear that it is acquired, but I’m surprised to know it is Apple.
Why Apple buy them? EditGrid’s capability on online office apps, esp. online spreadsheet, will strongly enhance the development of Apple’s iwork.com online service.
According to Apple4us, the acquisition is valued between $10m to $30m.
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[...] Apple Acquired EditGrid? : China Web2.0 Review http://www.cwrblog.net/1348/apple-acquired-editgrid.html – view page – cached Apple4us, the leading Chinese blog on Apple, reported that Apple has acquired EditGrid, an online spreadsheets service provider in Hong Kong. — From the page [...]
This is a good news. EditGrid is the first web 2.0 company acquired successfully in Hong Kong.
Where have you been? I miss your incisive posts!