According to PaidContent, Weblogs Inc, the blog media company founded by Jason Calacanis and Brian Alvey, is being bought by America Online. The deal which, is rumored to be around $25 million should be announced imminently. The company was founded about two years ago and received subsequent investment from Mark Cuban. The company has approximately 130 bloggers, about 15 full time employees and revenues around $2 million.
It appears that AOL intends to keep the Weblogs separate from its main site. It is unclear if acquisition includes the Blogsmith proprietary software used to run the sites. Why exactly did AOL pay $25 million ?
This acquisition comes of the heals of the announcement that Gawker's Gizmodo has teamed up with VNU (rumoured to be selling its business division) to offer eight different versions in the following countries Spain, UK, France, Italy, Germany, Netherlands, and Belgium. In other news VNU, in co-operation with Typepad has launched a personal blog service with basic (free) and more advanced (premium levels)
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