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November 28, 2007

Fotolog’s $90 Million Acquisition Completed

Erick Schonfeld

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fotolog-logo.pngFrench Internet company Hi-Media,operator of one of Europe’s largest ad networks and micro-payment services, completed its acquisition today of Fotolog. The $90 million deal was first announced last August. Since then, Fotolog has added two million more members for a total of 13 million, and claims 3.9 billion page views a month. Fotolog trails behind MySpace’s PhotoBucket and Yahoo’s Flickr. CEO John Borthwick is moving on to his incubator/investment fund Betaworks.

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This entry was posted on Wednesday, November 28th, 2007 at 8:39 am and is filed under Company & Product Profiles. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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  1. Photography and Social Media - Shaiki.com

    March 31st, 2008 at 9:45 pm

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  1. Chris R.

    November 28th, 2007 at 8:42 am

    1 year to close a buy out? Those lawyers are really fast aren’t they? I know I would be at 350/h.

  2. Digital Life

    November 28th, 2007 at 8:45 am

    Congrats to the whole Fotolog team!

  3. Tom

    November 28th, 2007 at 8:47 am

    http://www.quantcast.com/fotolog.com

    That is quite impressive! I wonder if other big international sites will sell soon, like friendster, or Hi5?

  4. Greg

    November 28th, 2007 at 9:09 am

    @Chris : The deal between fotolog and hi-media was announced august 2007. Therefore, it’s 3 months, not 1 year.

  5. Techie

    November 28th, 2007 at 9:26 am

    Its the boom time for acquisitions,all budding companies are making use of it for hefty amount.

  6. Live Crunch

    November 28th, 2007 at 9:33 am

    I wish i bought that domain name long time ago :)

    *log that
    *log this
    *log
    techlog.com get it?
    :)

  7. Chris R.

    November 28th, 2007 at 9:35 am

    @4, thanks Greg. That’s still way too long to draft a contract.

  8. JohnofScribbleSheet

    November 28th, 2007 at 9:36 am

    Congrats to Fotolog

  9. Mayank Kumar

    November 28th, 2007 at 9:37 am

    Photo blog and social networking now goes to ad network. Ad networks only need a way to get eye balls!! Just like google does in blogger case….

  10. Doug Mehus

    November 28th, 2007 at 9:56 am

    Disclosure needed, I believe.

    If I recall from posts over a year ago, Michael Arrington is an investor and/or advisor to Daylife and Betaworks appears to be one of the venture capital firms invested in Daylife.

    Cheers,
    Doug

  11. Warren Habib

    November 28th, 2007 at 11:21 am

    @7, Chris: the deal took longer than usual because of the international aspects of the deal, plus we had to go through a French regulatory approval step (SEC-like) that took about 2 months.

  12. Ginger Ale

    November 28th, 2007 at 12:11 pm

    $ 2.3 million in revenues and no profits for $ 90 million. If every would get such valuations I could be a billionaire …

  13. stone

    November 28th, 2007 at 1:18 pm

    Not a great outcome considering their traffic numbers.

  14. Adrien O'Leary

    November 28th, 2007 at 1:41 pm

    @ Ginger Ale : The deal between Fotolog and Google is very recent. Thus it’s just the beginning of monetizing. It’s one of Hi-Media’s specialties to do so … so I believe it’s a fair price they have paid. The future will tell.
    http://www.alleyinsider.com/20.....al-wi.html

  15. Steve Ballmer

    November 28th, 2007 at 3:28 pm

    Over-paid!

    http://fakesteveballmer.blogspot.com

  16. Tomas

    November 28th, 2007 at 8:19 pm

    Congrats to Michael and the rest of the guys!

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