Friday, January 4, 2008

Shutterfly Buys Nexo

Redwood City-based Shutterfly said Friday afternoon that it has acquired Palo Alto-based Nexo, a provider of online sharing and group services. Shutterfly said it paid less than $15M in cash and stock for Nexo. Nexo founders Craig Jorasch and Tom McGannon join Shutterfly's technology team. Nexo provided a service which enabled youth sports teams, families, and others to create custom web sites.