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October 6, 2005
AOL Buys Weblogs Inc for Around $25 Million
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According to reports from this morning, America Online has agreed to buy Weblogs Inc, a network of blog sites on a myriad of topics. The deal will be announced by AOL as early as tomorrow, although for the time being, both AOL and Weblogs Inc are declining comment. Weblogs Inc currently includes around 80 advertising-supported sites published by more than 100 bloggers. Examples include such sites as Engadget and Autoblog. |
David Sifry, chief executive of tracking site Technorati, said Calacanis has figured out a business model that is attractive to advertisers and allows bloggers to be paid. "He did a great job of forming a network of topics of high interest to advertisers -- from babies to gadgets to luxury goods," he said. AOL hopes to increase their advertising revenue through the purchase of the sites...stay tuned for the final purchase announcement tomorrow. [via friend site GeekCoffee] |
Posted by geekblue at October 6, 2005 4:06 PM