Neomedia has sold 12Snap back to its management incl co-founder Birkel for $5m (remuneration is $1.1m cash plus debt, services, etc), reports PR Newswire.
That means that Neomedia wiped out a cool $17m value in little more than a year: you may remember they acquired 12snap for $22m early 2006.
All the very best to the good folks of 12snap!!!
