drop.io is a platform for simple private exchange that enables users to create "drops", a basic private exchange point, which can be generated as simply as two clicks and can be accessed via the web, email, phone, fax. Before its exit, Drop.io had secured approximately $10m in funding, led by RRE Ventures.
drop.io's blogs set out the timeline for the winding up of the business as follows:
"In the coming weeks, we'll be winding down the drop.io service. As of this week, people will no longer be able to create new free drops, but you'll be able to download content from existing drops until Dec. 15. Paid user accounts will still be available through Dec. 15 and paid users will be able to continue using the service normally. After Dec. 15, paid accounts will be discontinued as well."
The real target of the acquisition appears to be drop.io's founder Sam Lessin who will be moving to the Facebook Project Management team although it is not currently clear what will happen to the rest of the drop.io team.
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