Outlook.com is a web-based suite of webmail, contacts, tasks, and calendaring services from Microsoft. Founded in 1996 by Sabeer Bhatia and Jack Smith as Hotmail, Microsoft acquired it in 1997 for an estimated $400 million and launched it as MSN Hotmail, later rebranded to Windows Live Hotmail as part of the Windows Live suite of products. Microsoft released the final version of Hotmail in October 2011 and it was replaced by Outlook.com in 2012.