We knew something was up when Shawn Fanning’s startup Rupture, an unlaunched social network around gaming, delayed and delayed their launch. Well, it turns out, say multiple sources, that Rupture was able to do what Parakey pulled off in 2007. Get acquired before launching, that is.
We’re shaking trees to find out the buyer and size of the transaction. But Fanning, who founded Napster, is having a good month. Just a few days ago we reported that his other startup, SnoCap, was acquired by Sequoia-backed Imeem.
Update: A source close to the company says we jumped the gun on this one a little bit, and that negotiations are still ongoing. No term sheet has been signed, although there are discussions going on. Also, the company raised another round of capital over the summer. Baseline Ventures led that round.