French 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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by
Erick Schonfeld
on
November 28, 2007
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Photography and Social Media - Shaiki.com
March 31st, 2008 at 9:45 pm -
Metroflog, fotolog, flodeo..que? « Seamos realistas… pidamos lo imposible
October 26th, 2008 at 5:04 pm -
Hi-Media adquiere Fotolog por 90 millones de dólares « go6o portal
December 28th, 2008 at 7:52 am -
Complete List of 2007 Web / Technology Acquisitions » The StartUp Blog at PartnerUp
April 9th, 2009 at 8:42 am
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1 year to close a buy out? Those lawyers are really fast aren’t they? I know I would be at 350/h.
Congrats to the whole Fotolog team!
http://www.quantcast.com/fotolog.com
That is quite impressive! I wonder if other big international sites will sell soon, like friendster, or Hi5?
@Chris : The deal between fotolog and hi-media was announced august 2007. Therefore, it’s 3 months, not 1 year.
Its the boom time for acquisitions,all budding companies are making use of it for hefty amount.
I wish i bought that domain name long time ago
*log that
*log this
*log
techlog.com get it?
@4, thanks Greg. That’s still way too long to draft a contract.
Congrats to Fotolog
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….
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
@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.
$ 2.3 million in revenues and no profits for $ 90 million. If every would get such valuations I could be a billionaire …
Not a great outcome considering their traffic numbers.
@ 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
Over-paid!
http://fakesteveballmer.blogspot.com
Congrats to Michael and the rest of the guys!