Upoc Sells To Dada Mobile; $7 Million Doesn’t Match $26.3 Million Investment

Mobile buyouts are hot this month it looks like and the news of Upoc selling off to Dada is not all that shocking to some industry insiders…

Exclusive: Upoc, one of the original mobile messaging community services, and among the most hyped names during the Silicon Alley heyday, is being sold to Italian/European mobile content firm Dada Mobile, MocoNews.net has learned. The amount: well, it doesn’t look pretty: about $7 million. From what I understand, other Italian/European firms were also interested, and even though they would have liked to sell to a U.S. company at a higher price, this is what they were getting.

Upoc has raised a total of $26.3 million since its inception: raised a $5 million third round from Apax and Advent International in 2004. In 2001, it raised a big $18 million second round, also from Apax and Advent, along with Tribune Ventures, 550 Digital Media Ventures, a Sony Group company, Allen & Company and Arts Alliance. The last two, Allen and Arts, were the first round investors, in which it raised $3.3 million…. Source: moco.news