Crashlytics Acquired by Twitter
At 5pm ET today, Crashlytics announced they had been acquired by Twitter. The entire Crashlytics team will remain intact and the Crashlytics product will continue to be developed. The founders will have significant roles within Twitter as well. While the purchase price was not disclosed, this was a tremendous outcome for the employees and investors.
There’s an old saying that great companies are bought and not sold. Crashlytics is a case in point. As a great example of a lean startup, they raised a $1M seed financing and a $5M Series A – and spent only 1/3 of it all by the time of the acquisition. On this funding, Wayne and Jeff built an amazing team, a revolutionary platform, a vibrant and addicted customer base of thousands and virally scaled their way onto hundreds of millions of mobile devices. In a little over a year.
When Twitter came knocking, we discovered that the teams and cultures matched remarkably well. It was clear that Twitter shared our vision for the future and together the opportunity to grow was just too good to pass up. I am very optimistic about the future of Crashlytics as part of Twitter, and grateful to work with this amazing team.
But it’s also bittersweet. We are fortunate to work with world-class entrepreneurs on a daily basis. Startups, like Crashlytics, that take off with ferocious acceleration and trajectory are rare indeed, and selling always begs the question of what could have been on a standalone basis? I am not a big “regrets” guy, so I will forgo the opportunity to wax prophetically. I know big things are in store for this team and I look forward to working with them again down the road.
We wish the entire team and the whole of Twitter the best of luck!