Wednesday, December 4, 2013

Docstoc Acquired By Intuit

Santa Monica-based Docstoc, which is led by Jason Nazar, has been acquired by Intuit, the companies said this morning. Financial details of the buy were not announced, however, the buy apparently was worth around $50M, according to various reports and sources. Docstoc was venture backed by Rustic Canyon Partners, Crosscut Ventures, as well as local angel investors like Mike Jones, Scott Walchek, Matt Coffin (LowermyBills), Brett Brewer (Intermix/MySpace), Robin Richards (MP3.com), and others. Nazar said that Docstoc's vision is to be the ultimate destination and resource site for small businesses as part of Intuit. The sale came as Docstoc had sharpened its focus on premium content for small businesses, rolling out a wide range of services specifically aimed at those customers--the same kinds of customers that are served by Intuit.

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