Marco Arment
@marcoarment United States105K followers
Indie iOS developer of Overcast, previously Instapaper and Tumblr
Overcast, Unforgetful, Instapaper +1
exit story · 2013 · productivity tools
How Marco Arment Sold Instapaper to Betaworks (2013)
Instapaper was built by Marco Arment and sold to Betaworks in 2013.
Key facts
- Buyer
- Betaworks ↗
- Year
- 2013
- Price
- Undisclosed
- Revenue at sale
- —
- Years operated
- 5.2 years
- Channel
- Direct sale
Why they sold: Instapaper had grown beyond what one person could run and needed a full-time staff, which Marco did not want to hire and lead. After more than five years, he wanted to try other apps and creative projects.
The story of Instapaper
Marco Arment launched Instapaper in January 2008 as a basic read-later web app. It went on to define the read-later category with its bookmarklet, sync service, reading-optimized text view and offline iPhone app. Marco built and ran almost all of it himself.
By 2012 he was struggling to keep up. He wanted a home that would staff and grow the product rather than a large company that might shut it down. Late one night he realized Betaworks was the right fit and emailed them, and in April 2013 he announced that he had sold a majority stake to the New York startup studio. The deal was structured to prioritize Instapaper's long-term health. Betaworks took over operations and expanded the staff, while Marco stayed on as an adviser and kept a minority stake. Terms were not disclosed.
Pinterest later acquired Instapaper in 2016, and in 2018 ownership passed to a newly formed independent company, Instant Paper, Inc. Marco went on to build the podcast app Overcast.
Lessons Marco Arment shared
- 1.When a product outgrows what one person can do, find an owner who will staff and invest in it.
- 2.Choose a buyer you know and trust to keep the product alive, rather than one likely to shut it down.
Paraphrased from the maker's public posts and interviews (see sources).
The maker
See the Instapaper product page or Marco Arment's full profile for everything they have built since.
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Sources
- marco.org — marco.org/2013/04/25/instapaper-next-generation
- en.wikipedia.org — en.wikipedia.org/wiki/Instapaper
Facts are taken from the maker's and buyer's public statements and press coverage. Prices and revenue are shown only when publicly stated; self-reported figures are not independently verified.
Keep exploring
Instapaper acquisition FAQ
Who bought Instapaper?
Instapaper was acquired by Betaworks in 2013 from Marco Arment.
How much did Instapaper sell for?
The price was not publicly disclosed.
Why did Marco Arment sell Instapaper?
Instapaper had grown beyond what one person could run and needed a full-time staff, which Marco did not want to hire and lead. After more than five years, he wanted to try other apps and creative projects.
How long did it take Instapaper to get acquired?
Instapaper was sold about 5.2 years after launch, through a direct sale (sold directly to a buyer, often a competitor, customer or acquirer that reached out).
What did Marco Arment learn from selling Instapaper?
When a product outgrows what one person can do, find an owner who will staff and invest in it. Choose a buyer you know and trust to keep the product alive, rather than one likely to shut it down.