It was only this past December that local business guide Backyard launched, backed by a few big-name early-stage investors. Now, less than five months later, they're exiting and providing a nice, quick return for those investors. PixelFish, a creator of local video marketing solutions for businesses, has snapped up Backyard in a deal that is roughly half stock and half cash, we've learned. The deal is for between $3 to $5 million ? and again, is a nice exit since the service had raised just $150,000 in seed money from 500 Startups, Jason Calacanis, and Eric Schmidt's Tomorrow Ventures. Notably, this marks the second exit for Schmidt's venture wing in as many weeks (after MindJolt acquired SGN last week).
Source: http://feedproxy.google.com/~r/Techcrunch/~3/_bbLwHjPqIA/
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