10/18/2012 08:41 am ET Updated Dec 18, 2012

Color Labs To Be Acquired By Apple

Color Labs, the photo-and-video-sharing social network that received much criticism over its pre-launch $41 million funding round, is about to be acquired by Apple. We've heard through trusted sources that the startup was nabbed for a price that is in the 'high double digits', as in millions, and that the deal is 'done', though papers have yet to be signed.

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