Apple buying Color's engineers -- not tech, report says
Apple's interest in Color Labs centers on its engineering talent, according to a new report. The patents and domain may still be up for grabs.
Did Apple really buy a video-sharing app, its small collection of patents, and other assets?
Not quite, according to a new report.
Citing sources, All Things Digital says Apple instead picked up "about 20" of the startup's engineering types, who will work on cloud-based projects for Apple, while the remainder of Color is "wound down."
The price on the deal was said to be in the $2 million to $5 million range, the report adds, well short of the $41 million in funding the company got before it launched.
News about Apple's interest in Color was reported last night by The Next Web. The report suggested that Apple would be interested in some of the company's patents, which might tie in, and perhaps extend the company's media sharing tools.
The engineering pickup, which Apple has not confirmed, comes days after CNET first reported of Apple's similar, engineer-focused buy of Particle, a San Francisco-based HTML5 company.
CNET has contacted Color's largest investor, Sequoia Capital, as well as founder and CEO Bill Nguyen for more information, and will update this post when we know more.