The enterprise collaboration software yammer has officially been bought by Microsoft for a hefty sum of 1.2 billion dollars. Details of the purchase have not hit the web yet but the team at Yammer will look forward to join Microsoft’s squad.
Yammer launched in 2008 as a premier social enterprise communication device for small to mid sized businesses. Ever since the company has grown to offer their services to eighty percent of fortune five hundred companies.
Yammer reportedly doubled their revenue each quarter from 2008 to 2009 but never reported an exact number stating they were looking at “seven digits.” in 2010 the company reported over three million people were using the social service.
Yammer has been called the “Facebook for Business” and is being used by more than 80,000 companies worldwide. Since Yammer began in early 2008 the company has received close to one hundred and fifty million dollars in funding from a handful of venture capital firms.
Charles river ventures and the founders fund to name a few.