Online contact management service Plaxo has reportedly hired an investment bank and put itself up for auction. The New York Times is reporting that the company, based in Mountain View, CA, is looking to sell for about $100 million, and has hired investment bank Revolution Partners to complete the sale. A report from PE Hub says that Plaxo has already received one unsolicited offer in the $200 million range.
Plaxo was founded in 2001 by Stanford classmates Cameron Ring and Todd Masonis along with Napster cofounder and Facebook founding president Sean Parker. It is backed by Sequoia Capital, Cisco Systems, Globespan Capital Partners, DAG Ventures, and Harbinger Venture Management.
