Apple said to be acquiring strained startup Color Labs | Apple – CNET News

The plot thickens….

Color Labs founder Bill Nguyen has a relationship with Apple. In 2009, the tech giant bought one of his startups called Lala for $80 million.

Now, rumor has it that Apple may be after his Color Labs too.

According to The Next Web, sources say that Apple has picked up the startup for a price in the “high double digits,” and the deal is final even though papers aren’t yet signed.

Color made a big splash when it launched last year as a location-based photo-sharing app for iOS and Android. Its charismatic founder, Nguyen, won big backers, like Sequoia, Bain Capital, and Silicon Valley Bank.

In the past couple of days, however, there has been talk that the startup was shutting down after criticism of the relationship between Nguyen and Color Labs’ board. But that doesn’t seem to be the case. Company representatives said today that Color Labs plans to stay up and functioning.

Now, it’s looking like it might stay operating under Apple’s watch.

via Apple said to be acquiring strained startup Color Labs | Apple – CNET News.

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