Another Seattle Tech Company Gets Acquired

Seattle Tech and Online Marketing Roundup for Thursday, March 24, 2011

Walgreens to buy drugstore.com for $429 million GeekWire

Another Bellevue-based tech buyout is in the news, this time involving Drugstore.com, the online pharmacy headed by Dawn Lepore that arrived with a bang it couldn’t sustain. While Amazon.com seemed a likely buyer, Walgreens made the winning $429M bid and intends to continue the Bellevue office and brand.

Zaarly’s Wild Ride: Winning a Weekend, Quitting a Job, and the $100 Midnight Cheeseburger Xconomy

The reverse-auction model called Zaarly that began as the prize winner at LA’s Startup Event flips the conventional entrepreneurial formula by letting revenue take a backseat to the goal of gaining the widest demographic and distribution. Serendipity and snap decisions may have brought together the founding team of Fishback, Koester and Hunter, but after a live launch at SXSW and an opportune Ashton Kutcher tweet, Zaarly needs to prove it’s a sustainable concept and not just a lucky whim.

Cray lays off 52 workers TechFlash

Restructuring at Cray will cost 52 positions, but the supercomputer company intends to make up those jobs in other areas – at a potential cost of $2M. The Seattle company with just under 900 employees is currently partnering on an enterprise with the Defense Advanced Research Projects Agency.

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