Apple rumored to be preparing to acquire troubled startup Color Labs
The much-hyped Color Labs was started by Bill Nguyen, who already has a relationship with Apple - the California-based tech giant bought one of his previous startups, Lala, for $80 million in 2009. Now, rumors are circulating of a second acquisition. Color Labs is responsible for Color - a location-based photo-sharing app for iOS and Android which shares photos according to your proximity to your contacts.
The app, which offers to 'live broadcast moments of your life' was released in 2011, backed by more than $40 million in venture capitol but has so far failed to gain enough traction to seriously compete with better-established competitors like Instagram.
Do you use Color? What do you think of the news?