And while I wouldn’t go as far as to call the deal an outright acqui-hire, along with Chong’s new position, a number of other details suggest that this was a major consideration behind Badoo’s decision to acquire Lulu.
Tied to this is the fact that, for the time being at least, the Lulu app as we know it is to be no more.
Lulu’s early backers were Passion Capital, PROfounders and a number of prominent angels including Yuri Milner and Dave Morin. In total the 2011-founded startup had raised $15 million.
In a later undisclosed Series A round, Venrock also came on board as an investor after Lulu relocated to New York and began exclusively targeting the U. With that said, whether or not this is anything close to a home run for investors is impossible to know, but it’s notable that Chong is not only staying on but is getting such as prominent position within Badoo.
There is a compatibility match – it matches people based on what you are looking for in a partner – and the reverse match, which matches people based on the information you provided about yourself in your profile.
You can send a wink to someone’s profile you find interesting.
If on the other hand, they would like to report on some actual news, it would be GREATLY appreciated.