Tech Journal
TechJournal is a web log that profiles, documents, interviews and reviews the latest internet startup companies and the newest technologies and pretty much anything to do with the World wide web 2.0 and its users.
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Tags: acquisitions, aol, bebo, yahoo
In light of the newly completed acquisition of Bebo , AOL, the new owner will have control over the social network's ad services. This spells trouble for Yahoo, Bebo being the biggest social network that they have a ad-contract with. Bebo will be using Yahoo's ad platform until September 2009 at which point their contract will end. With AOL now owning Bebo, renewal of that contract is unlikely to happen and Bebo will probably shift to AOL's Platform-A ad platform.
Yahoo's contract with Bebo only covers UK, Ireland and Australia. Bebo has not yet expanded to the US. However, with AOL now being the boss, Yahoo will no longer have access to the goldmine Bebo is expanding to.
All this is still speculation but it does make sense for Yahoo to lo...more
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Tags: acquisitions, aol, bebo
It's final, AOL has completed the transaction to purchase social network Bebo. In a twist, they'll (AOL) be putting it in a new department called People Networks which will include AIM, ICQ, Gooqy and Yedda. This is all part of AOL's planof repackaging their services as they promised at the start of the year.
Joanna Sheilds of Bebo will be heading up the newly formed Peolpe Network and joining her will be AOL's David Liu.
Details of the acquisition are detailed in Randy Falco's, AOL CEO, memo below and AOL's press release :
Dear AOL colleague,
I’m pleased to report that we’ve completed our acquisition of social networking pioneer Bebo, which will serve as the centerpiece of our reinvigorated community efforts a...more
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Tags: acquisitions, mergers
IAC, the owners of Ask.com, has just acquired in full the company, Lexico Publishing Group LLC -- the owner of Dictionary.com, Thesaurus.com, and Reference.com, in an all-cash transaction.
"Lexico is a lean and fast-growing business with rapid top- and bottom-line growth, and is a natural addition for Ask.com," said Jim Safka, CEO of Ask.com. "More than 30 percent of all searches conducted on Ask.com are in the reference category. In fact, 'dictionary' was the second-most searched term on Ask.com in 2007. At the same time, Lexico's consumers frequently seek out a search engine immediately before and after using one of Lexico's sites. This acquisition expands Ask.com's reach and aligns perfectly with our customers' needs."
In return, Lexico was glad that they got a nice break with this acquisition.&...more
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Tags: CNET, CBS, blogs, acquisitions
[image from Mashable] CNET Networks, the company behind CNET, ZDNet, GameSpot.com, TV.com, CNET News, UrbanBaby, BNET, CHOW and Search.com, have been acquired by media giant and oldie, CBS fir $1.8 billion.
At first this would have sounded like a great big buy out that would rival Time Warner's acquisition of AOL or the possible merger of Yahoo and Microsoft, or the Google acquisition of YouTube. However, this comes as a diappointment to many people keeping tabs on the business side of CNET.
Leslie Moonves, President and Chief Executive Officer at CBS Corporation, said this about the acquisition:
“There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks. CBS stands for premium content and unparalleled reach, and CNET Networks will add a tremendous pla...more
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Tags: acquisitions, hp , eds
HP has just acquired technology outsourcing firm EDS confirming that they wereplanning a merger. Reasons as to why HP did purchase EDS are explained in the press release. However, without the flowery words, it may be because HP is not doing well with their outsourcing branch, or HP is taking a huge step into the future.
HP is known for printers and computers. However, there is just so much they can get from that business so they too are into outsourcing, providing IT services to companies who can't afford or find it more efficient than doing it in-house.
Some say that HP just wants to get even with IBM. Whichever the reason, HP's merger with EDS will surely give them a foothold in the outsourcing market against IBM and Accenture.
PRESS RELEASE [more
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Tags: acquisitions, google, blinkx, video
REUTERS reports:
LONDON (Reuters) - Shares of British video search engine firm Blinkx surged 50 percent to a seven-month high on Friday, on talk that Internet giant Google and media conglomerate NewsCorp may bid for the firm.
Blinkx, founded in 2004 by Sri Lanka-descended Briton Suranga Chandratillake, floated on London's junior AIM market in May 2007 following a merger with another UK search engine firm, Autonomy.
Blinkx may also be a target because of its technology and its strong consumer focus, said Piper Jaffray analyst Rajeev Bahl.
Talk of a bid "does not sound ridiculous," he said. "If there were to be a bid, the main search engine companies like Google and Yahoo would be sensible bidders. Blinkx have got very ...more
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8 May 2008
Tags: acquisitions
Too bad for TorrentSpy losing that court trial and having to pay $110 million in damages. Condolences should also be in order for Jangl which we have yet to cover here on TechJournal soon. However, on the bright side, some startups get some funding and some companies partner with bigger ones too.
We have 3 startups today getting venture capital from VC's as well as mobile retailers getting a huge investmetn from another retailer. Everything after the break.
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Giant Realm, the entertainment portal geared towards men, has received $2 million in funding from SoftBank Capital. The funds come in addition to the $3.5 million contributed by Comcast Interactive Capital and Edison Venture Fund last month, bringing the total Series A funding to $5.5 million.
Giant Realm i...more
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Tags: acquisitions
It's been a long time since we did this but we got a handful today. I actually spoke to a startup today wherein we discussed the importance of funding and how much startups burn through wads of cash waiting for that one hit wonder that gives them both credibility and viability. Well, I guess that's no problem for these guys who have clearly passed that mark.
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Spot Runner, a company which provides television ad spots for small-to medium-sized businesses with stock video footage and other custom options, has raised another mountain of cash. They’re announcing tonight that they’ve raise $51 million more. This time the funding comes from Daily Mail and General Trust, Grupo Televisa, Legg Mason Capital and Groupe Arnault.
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The ...more
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Tags: acquisitions
It's been a while since I did this section but today is special. No, it isn't because it's the anniversary of anything but simply because there's a whole lot to report on startups getting venture capitals. It's actually surreal, since the start of 2008, I've been waiting for rounds and rounds of fundings and acquisitions but recently what I was expecting slowed down a lot.
Today however, I and a number of blogs (totally unrelated) am happy to post and announce the fundings and acquisitions within the last 24 hours.
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InvenSense has taken $19 million Series C in a round led by Sierra Ventures with previous investors Artiman Ventures, Partech International and Qualcomm Ventures also participating. Strategic investors in the round included Foxconn, ...more
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Tags: acquisitions
Twitter has just raised a new round of venture capital. A source familiar with the negotiations tells me that Twitter signed a term sheet for "either $15 million or $20 million" last week.
However, who its from nor how much exactly has not yet been disclosed to the public. Last week, Valleywag reported that Twitter was looking for more funding amounting to $15 million. This puts the Twitter valuation at about $60 million.
Funny thing is, Twitter is not yet even a business nor do they have a clear cut business model. They recently launched a Japanese version of Twitter with ads. However, that may not exactly be their business model nor is it the business model any of their investors would expect.
Their first round of funding got them $5 million at a $20 million valuation from Union Square Vent...more
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