Today morning we reported that Cobone has been acquired by Tiger Global Management after months of speculation. The deal was speculated to be close to $40 million.
Some of the Cobone Staff have been laid off. We actually spoke to a team member who confirmed that they were issued a notice today morning. However we are not able to confirm the total number of staff who were asked to leave.
There are some rumors making rounds in the market
- Rumor no. 1 – Cobone may focus only on Travel Deals and divert away from all other verticals. Many of the cities on the deal website are already running travel related offers.
- Rumor no. 2 - The deal was worth $2 million and not $40 million. However, there are no confirmed reports on the deal amount.
We tried contacting Paul Kenny, CEO of Cobone, who obliged to return our call, however he refrained from commenting on any of the above rumors.