BackType acquired by Twitter

Backtype has been acquired by Twitter

Congratulations Christopher Golda (@golda) and Michael Montano (@michaelmontano) on Twitter acquiring BackType. We’ve written about BackType since their acceptance in YCombinator (fortunate that we didn’t give iPartee their previous startup too much attention). This is another amazing acquisition of Canadian startups by a Silicon Valley company (make it 16 acquisitions since Jan 2011 see TechVibes). I think Dan was right, this could be a $1B year for Canadian startup acquisitions.

The BackType team had already relocated from Toronto to San Francisco. And it looks like the relocation to the Twitter offices should be much easier:

Our team’s relocating to the Twitter office. We’re very excited to not only join an amazing company that’s changing the world, but to continue building products in pursuit of our shared vision with Twitter.

Finally, I’d like to thank all our investors and advisors, especially Y Combinator, Toni Schneider and True Ventures, Josh Felser and David Samuel from Freestyle CapitalManu KumarChris SaccaRaymond Tonsing and Seth Berman.

What is amazing/disappointing is that there are no Canadian investors along side the group of amazing investors assembled by Chris and Michael.

  • http://startupnorth.ca Jevon

    Wow guys — congrats! Enjoy the time at Twitter and we can’t wait to see what’s next.

  • http://davidcrow.ca/ davidcrow

    It’s great news, let’s assume that it’s a 10x exit (it might actually be more) PEHub lists http://www.pehub.com/110950/twitter-buys-backtype/ $1.32MM in investment. That puts exit at $13.2MM which both feels low and high. BackType is a very interesting company, but if they are only 4 employees ($3.3MM/emp feels high).

    Doesn’t matter. Congrats @golda:twitter  @backtype:twitter @michaelmontano:twitter everyone involved. Great win. 

  • http://www.backtype.com/cg Christopher Golda

    Thanks, David. We raised a total of $1.4mm; can’t comment on deal but everyone’s happy with the outcome.

  • http://davidcrow.ca/ davidcrow

    We’re very happy for you guys! The technology, the team, the offering it was killer.