Monday, August 1, 2011

Smilebox Acquired By IncrediMail

Redmond-based Smilebox, the online photo sharing site founded by Andrew Wright, is being acquired by Israeli firm IncrediMail Ltd. IncrediMail said this morning that it will pay $25M in cash plus up to $15M in earnout for Smilebox, a software and service which takes photos and videos and makes it easy for users to create slideshows, greeting cards, photo albums, and more. IncrediMail said it expects Smilebox to have sales in excess of $15M in 2012. Smilebox will continue to operate from Redmond, with its 50 employees. Smilebox was venture backed by Bessemer Venture Partners and Frazier Technology Ventures.