A classic startup horror story: the M&A bait and switch

The founder was home in his kitchen cooking dinner when the call came. It was one of those moments when the color seems to drain out of the food in front of you. The voice on the other line was the contact at the company that has been trying to acquire his small startup for several months. “Our engineers looked at what you showed us during the due diligence and told our CEO, ‘It doesn’t look so hard, we can build it ourselves.’”

Xing snaps up event startup Amiando

German business social networking site Xing has acquired Amiando, an online event management and ticketing services company, for around 10.3 million euros, as the “German LinkedIn” attempts to engage its more than 10 million members more actively.