Just yesterday it was revealed that Apple has acquired Particle, a small San Francisco company specializing in web applications and marketing using HTML5. Today, The Next Web reports that Apple is also in the process of acquiring Color Labs. Even before launching last year, Color raised a $41 million round of financing. The service first started off as a photo sharing service but later pivoted into a streaming video service.
Earlier today, VentureBeat reported that the company leaders had “voted to wind down the company”, but quickly after the news broke, Color issued a brief statement claiming that it was not in the process of shutting down. Color was founded by Bill Nguyen, who was the creator of Lala Media. Lala Media was acquired by Apple in late 2008.
This report may sound crazy at first since, but it makes a whole lot of sense. Color is similar to Siri. A novel idea that needs someone bigger to take it mainstream.