Thursday, January 23, 2014

Gravity Acquired By AOL For $83M

Santa Monica-based Gravity, the real-time, personalization software developer led by Amit Kapur, has been acquired by AOL, in a deal worth $83M, plus $7.7M in earnout. According to AOL, it will use Gravity's technology to create more engaging, relevant, and valuable experiences for its consumers, advertisers and publisher partners. Gravity was venture backed by August Capital, Redpoint Ventures, and Upfront Ventures, and had raised around $20.6M in total funding. Gravity's founders are Amit Kapur, Jim Benedetto, and Steve Pearman, all of whom were previously at MySpace.

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