Ziff Davis Gets Out Of The Game: Sells 1UP To Hearst, Shutters EGM Mag To Focus On PCMag Network — Looking to conserve its resources for its PC Mag Digital business, Ziff Davis Media has sold off the 1UP Digital Network, its collection of video game sites, to Hearst Corp., which will fold it into the UGO Entertainment division. In conjunction with the sale, the related print mag Electronic Gaming Monthly will publish its last issue this month.
Archive for Deals
Consumers Union To Buy Gawker’s Consumerist.com — Consumers Union is buying Consumerist.com from Gawker Media, according to the New York Times—meshing the non-profit publisher’s interest in expanding its reach to a younger online crowd with Nick Denton’s latest blog diet. (The Times, the average age of a print Consumer Reports sub is 60 and ConsumerReports.com is 50, while the snarkier Consumerist draws from the 18-49 crowd.) Kevin McKean, VP and editorial director of Consumers Union, told the NYT the blog would be part of a new division, that the current editors would stay on and that the style would stay the same. Two contributors who were laid off by Gawker will rejoin the site in January. No terms disclosed.
BandMetrics Raised Undisclosed Amount — Band Metrics, an Atlanta-based online music trends analytics and analysis firm, has received an angel round of financing. The investment was led by Allen Graber, a technology investor and entrepreneur.
Hoodiny Raised Undisclosed Amount — Hoodiny Entertainment, a Latin-focused digital entertainment company and parent of music and social network Cyloop.com, has received an undisclosed amount of investment from Constancio Vigil. The Miami Beach, Fla. company has previously raised $11 million from angel investors.
JAZD Markets Raised 8 Million First Round — The online B2B directory firm, based in Andover, MA, has closed an $8 million first round of investment in the company. The round of investment was jointly led by Commonwealth Capital Ventures and Pilot House Ventures. It has sites such as Jazdchemicals.com, Jazdenergy.com, Jazdpackaging.com and many others.
Macrovision Sells Off TV Guide Network For Up To $300 Million; Shocker: Also Sells Online — Macrovision (NSDQ: MVSN) is almost done with most of its dispositions, and after selling off its TV Guide magazine for $1 to OpenGate Capital, is getting considerably more for the namesake TV network and the online part: it has sold off TV Guide Network to Allen Shapiro and One Equity Partners for about $255 million, plus up to an additional $45 million earnout payable through 2012. The surprise part: after professing love for TVGuide.com network (which includes jumptheshark.com, tv-now.com, tvshowsondvd.com and fansofrealitytv.com) for the last couple of quarters, it is now washing its hands off it, and bundled it as part of this TV network sale. The deal is expected to close on April 1 next year. One Equity Partners is the $8 billion PE arm of J.P. Morgan Chase & Co. Shapiro was most recently president of entertainment management firm Mosaic Media Group and CEO of Dick Clark Productions (DCP). Shapiro facilitated the leveraged buyout of DCP and became CEO of the company in 2004.
iB3 Networks Goes Social: Buys Entertainment Community And Online Dating Site — Web-hosting firm and online network iB3 Networks (OTC BB:IBNW) is adding a pair of social media properties to its roster: Plugmeister.com, an online community where entertainers can upload and sell their video and audio clips, and MadisonAvenueMatch.com, an online dating service slated to launch in early 2009. iB3 will acquire MGV Communications, parent company of Plugmeister, in an all-stock deal, though the price was undisclosed. According to Eric Schmidt, IB3’s CEO, the site separates itself from other social nets because it gives artists a place to sell their content directly—not just promote it.
Kosmix Raised $20 Million In Fourth Round — Mountain View, Calif.-based developer of vertical search engines based on specific topics, has raised $20 million in fourth-round funding. Time Warner led the round, and was joined by return backers DAG Ventures, Accel Partners and Lightspeed Venture Partners.
RiseSmart Raised $3 Million In Series A — Sunnyvale, Calif.-based provider of job search and outplacement services via the Web, has raised $3 million in Series A funding from Norwest Venture Partners.
JiWire Raised $11.1 Million In Series B — San Francisco-based WiFi advertising network, has raised around $11.1 million in Series B-1 funding, according to a regulatory filing. It also sold another $1.53 million of Series B warrants, which could be converted into around $3.88 million of preferred stock. Comcast Interactive Capital came aboard as a new investor, with CIC principal David Horowitz joining the JiWire board of directors. JiWire had previously raised around $11.5 million, from firms like Draper Fisher Jurvetson, DFJ Frontier, CNet and Panorama Capital.
Roost Inc Raised $8 Million In Series B — The San Francisco-based search engine for residential real estate has raised $8 million in Series B funding. Shasta Ventures led the round, and was joined by return backers General Catalyst Partners, The Cross Country Group LLC and Geolo Capital.
Tumblr Raised $4.5 Million In Series B — The New York-based social networking and online publishing platform, has raised $4.5 million in Series B Financing. The round was led by Union Square Ventures and Spark Capital.
SnapMyLife Raised $5 Million — The photo sharing site based in Needham, Mass., has raised $5 million led by current investors North Bridge Venture Partners and Carmel Ventures. The company is owneed by Mobicious, Inc.
Atari-Infogrames Buying Multiplayer Games Developer Cryptic Studios for $27.6 Million — French video games company Infogrames, majority shareholder of Atari, s buying Las Gatos, CA-based online multiplayer games developer Cryptic Studios for $27.6 million in cash and shares—with earn-out clauses taking the figure to $55.1 million by 2011 depending on the performance of Cryptic’s games. Infogrames is issuing company bonds to get its hands on the company which it hopes will boost Atari’s online games growth in America and abroad with its games including Champions Online, due for release next year, and a Star Trek game slated for 2010. Cryptic says it generated more than $100 million from its City of Heroes and City of Villains multiplayer games, before selling them to NCSoft. The company has about 150 full-time staff and for the 12 months June 30 it made revenues of $17 million.
IK Sells Wehkamp — IK Investment Partners has sold Dutch online retailer Wehkamp to a group of undisclosed private investors. No financial terms were disclosed. IK and credit management company Transfair originally acquired Wehkamp in early 2006 from UK retailer GUS PLC. A source familiar with the situation said the deal is worth about 500 million euros ($663.4 million) to IK, which acquired the business in 2006 from GUS plc, which subsequently demerged into Home Retail Group (HOME.L: Quote, Profile, Research, Stock Buzz) and Experian (EXPN.L: Quote, Profile, Research, Stock Buzz). IK said its reorganisation of the retailer into three online stores for fashion, living and electronics has turned around Wehkamp’s declining sales to produce an average annual growth rate of 5 percent and a doubling of operating profits.