27 Apr '12, 7am

Chalkboard calls it quits, after saying no to acquisition offer from Silicon Valley @chalkboarders

Chalkboard calls it quits, after saying no to acquisition offer from Silicon Valley @chalkboarders

Chalkboard calls it quits after going to Silicon Valley April 27, 2012 by Terence LEE It was a simple party with a few invited guests, some pizza and drinks, a seemingly ordinary networking event at the Chalkboard office in Mount Sophia. No formal announcement was made, but some of the folks knew something was up. There would be no happy ending for Chalkboard, a Singapore-based mobile advertising startup. The co-founders, Saumil Nanavati and Bernard Leong , decided months earlier to close shop. They were just quietly figuring out a way to do it. Interestingly, they were very close to getting acquired. Chalkboard was, after all, a pretty attractive target: Sales were coming in, and they were close to breaking even. One interested party was a major firm from Silicon Valley, the other a prominent Singapore company. However, they felt neither acquisition was the right fit. But...

Full article: http://sgentrepreneurs.com/innovation-technology/2012/04/...

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