Tuesday, July 5, 2016

Hornet Buys Vespa

San Francisco-based Hornet, a mobile app and gay social network operator, said on Tuesday that it has acquired Vespa, a provider of a gay city guide. Financial terms of the buy were not disclosed. Christof Wittig, the founder and CEO of Vespa--and who was a co-founder of Hornet--becomes CEO of Hornet. The company said that former CEO and co-founder Sean Howell shifts to Chairman and President. Hornet says it has 3 million monthly active users.