I just read a blog by Erick Schonfeld on techcrunch.com called Shutterfly Buys Tiny Pictures For A Tiny Price.
Shutterfly purchased Tiny Pictures Friday, Sept. 11, for only $1.3 million in cash and then $1.3 million in stocks to employees.
Tiny Pictures used and offered Radar, a phone picture sharing service, where pictures could be shared through your phone among you, your friends and family immediately after being taken. Then, anyone in your circle of "Radar users," would be free to view and comment on the pictures you took.
The application sounds pretty cool to me, but apparently Tiny Pictures was never able to expand from its core group of users to a widespread audience. Maybe that has to do with the fact that you're only able to share pictures with people you know, and if you don't know anyone else with Radar, there isn't much reason for you to buy or use it.
I'm very surprised Tiny Pictures sold for such a low price. These days, especially when businesses are concerned, $2.6 million isn't very much money.
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