Image via CrunchBase
BT never knew what to do with Ribbit, and Ribbit never really could do anything for BT. And now, a few years after a $105 million dollar price tag paid for by BT Ribbit, BT has decided to put Ribbit to sleep. The move comes some nine months after the mastermind behind the purchase, JP Rangaswami left BT for greener pastures, SalesForce.com .
It was a match that was made because BT had five projects on the drawing board that Ribbit reprortedly had ready to go. In BT's mind the price to pay, back when the dollar was cheap to the British Pound, like 2:1 cheap, made the purchase what's called a buy vs. build decision.
What does Twilio get? Not really that much. They get developers who likely were already using their platform too. The news effort by BT is called in PR parlance, "face saving" and made to appear that the company is doing the right thing.
Unfotrunately, doing the right thing would have been to not have bought Ribbit back when they did.