Ticket Search Engine FanSnap Acquired By Shopping Site NexTag, But Employees May Get $0

Comparison shopping site NexTag has made its fifth acquisition in 15 months, buying event ticket search engine FanSnap. Unfortunately, FanSnap employees and any other common stockholders won't get anything out of the deal, according to a source close to the transaction. Apparently the purchase price was low, and FanSnap had taken over $15 million in funding primarily from General Catalyst Partners. That means even if the investors were paid back, there'd be nothing left for common stockholders.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/CLJSP0rlhIA/

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