The new fad for startups seems to be to get acquired and join a biggie! Instagram was one such story where it was acquired by Facebook.But at least we can all still use Instagram. For Punchfork which was a beautiful social recipe platform, the story ends with shutting down. Pinterest took over Punchfork and as a part of the agreement, the Punckfork site, API and mobile apps will see a doomsday soon.
Jeff Miller, the mind behind Punchfork said, “We believe that a unified destination benefits our users in the long run, and the Punchfork team will focus on contributing to Pinterest as the premier platform for discovering and sharing new recipes and other interests on the web.” as mentioned on Venturebeat.
Pinterest rose to the pinnacle with its innovative grid-style masonry layout. This made Pinterest stand out in the social media landscape with millions of users. Pinterest itslef sustained without an overdose of funding while getting into M&A. Businesses, independent workers as well as commoners across all verticals have been leveraging Pinterest helping them derive inspiration and happiness.
Now that Pinterest acquired Punchfork, the amount is still a secret. It is assumed that since Punchfork’s UI looked similar to Pinterest, this is giving out a signal that such exits can happen sooner for apps who share the same style. Punchfork’s CEO Jeff Miller is by experience a hedge fund trader, a developer and an angel investor. Seems this is a good deal for both of Pinterest and Punchfork.
Here is a sneak peak into the email mailer Jeff send out to the vibrant Punchfork community:
Dear Punchfork Community,
Today we are excited to share the news that Pinterest has acquired Punchfork!
“Since launching in January 2011, our mission at Punchfork has been to help home cooks discover new, high quality recipes and share them with family and friends. It is a mission driven by a belief in the ability of web and mobile platforms to inspire our lives offline–at home, in our communities, and for Punchfork, wherever meals are shared.
To cooking aficionados, Pinterest needs no introduction. It stands as one of the fastest growing online services in history with millions of users, and millions of people use it to find recipes every day. Pinterest is often described as a platform for inspiration, and we feel this aligns perfectly with the goals of Punchfork. We couldn’t be more thrilled to join forces with the Pinterest team in San Francisco.
Initially, support for Punchfork will continue, but we will soon be retiring the Punchfork site, API and mobile apps. We believe that a unified destination benefits our users in the long run, and the Punchfork team will focus on contributing to Pinterest as the premier platform for discovering and sharing new recipes and other interests on the web.
Our sincerest thanks to our community members, friends, and everyone involved with Punchfork since its launch.
See you on Pinterest!”
But what message are these acquisitions sending out to innovative minds? Before a startup can grow big players are all set to bring them under their brand umbrella. This is indeed diluting the essence of jouneying from being a startup till a million dollar sustainable business.