The Huffington Post buys Adaptive Semantics

June 22, 2010 — Fusion DigiNet

Online newspaper and social news network The Huffington Post, also referred to as HuffPo or HuffPost, has acquired the two person business Adaptive Semantics. It is the first acquisition by The Huffington post. The terms of the deal were not disclosed.

Adaptive Semantics is the maker of JuLiA, a program that uses Bayesian algorithms to automatically moderate comments. Huffington Post was already Adaptive Semantic’s main investor, and had already acquired a 20 percent stake in the business in April, 2009

JuLiA employs algorithms similar to spam filters found on most email services, separating useful comments from abusive or obscene ones. Adaptive Semantics co-founders Elena Haliczer and Jeff Revesz will join The Huffington Post’s staff, Haliczer as project lead of social news technology, and Revesz as director of social news technology.

The Huffington Post was founded by Arianna Huffington, Kenneth Lerer, and Jonah Peretti. It was originally launched in May 2009. In 2008, the site launched its first local version, HuffPost Chicago; HuffPost New York launched in June, 2009, HuffPo Denver launched in September 2009, and HuffPo Los Angeles launched in December 2009.

Location: USA, New York, NY

Ref: F231109-507

Related article – Greycroft Partners closes its second fund to invest in digital media businesses April 14, 2010

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Optimum Interactive is to acquire The ZOI Greek Telephone Directory

June 22, 2010 — Fusion DigiNet

Optimum Interactive is set to close on the acquisition of ZOI — The Greek Telephone Directory. Optimum will immediately integrate the operations of ZOI by establishing a new division called CelectMedia.

The ZOI Greek Telephone directory is a national publishing and media provider for the Greek community, uniting fraternities and sororities with an annual lifestyle guide and directory. ZOI will bring a proven advertising revenue model onto the Celect.org system, now serving 1,200 clients and 1.5 million unique members.

“We expect to increase our sales for 2010 and 2011 by more than $2.5 million annually via the acquisition,” said Mark Anderson, President of Celect.org. “ZOI will bring significant expertise and marketing synergies from its robust organizational client database and campus directories.”

The ZOI Greek Telephone Directory maintains a strong presence in over 70 universities nationwide. ZOI’s website (http://www.thezoi.com) offers user generated content and executive networking functionality. The Company was founded fifteen years ago and is based in Los Angeles, California.

“We are extremely excited about the opportunity to leverage the Celect.org platform and web-based system tools and are looking forward to what should prove to be a tremendous lift to both businesses,” said Larry Tollin, CEO of The ZOI.

Location: USA, Los Angeles, CA

Ref: F231109-506

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Web.com is acquiring Register.com for $135 million

June 22, 2010 — Fusion DigiNet

Web.com is acquiring Register.com for $135 million. Register.com is a portfolio company of private equity company Vector Capital. The transaction is expected to close in the third quarter.

Register.com is a leading provider of global domain name registration and complementary website design and management services.  The acquisition by Web.com will create one of the largest online marketing and web services companies serving small businesses.

In November 2005, Vector Capital partnered with the Register.com management team to take the company private. As a private company, Register.com divested a non-strategic division and created a new growth division to enhance customer service capabilities and broadening product offerings.

“Register.com is the most recent example in Vector’s long history of partnering with management to realize significant value by transforming and growing technology companies”, said Amish Mehta, Partner at Vector Capital “This is an exciting development for all stakeholders, including customers, Web.com shareholders, management, and employees. In addition, the sale of Register.com combined with the proceeds received from 2006 and 2007 recapitalizations of the company creates a great outcome for Vector’s investors.”

Location: USA, San Francisco, CA

Ref: F231109-504

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Criterion Capital Partners buy Bebo

June 17, 2010 — Fusion DigiNet

Criterion Capital Partners, a merchant banking and financial advisory firm based in the United States, announced today that it has acquired the Bebo business, the youth-centric social media network, from AOL Inc. As part of the deal, CCP will assume the rights and complete operating control over the global social platform business.

The acquisition and financing was lead by Adam Levin, managing partner at CCP, in partnership with accomplished business strategist Paul Abramowitz and web entrepreneur Richard Hecker. CCP will take over Bebo’s global operations immediately and retain a San Francisco-based headquarters. Exact terms of the deal are not being disclosed by either party, though most reports are saying it was sold for just $10 million! Bebo was acquired by AOL in March 2008 for $850 million.

“Criterion Capital Partners are specialists in facilitating growth plans and turnarounds, and are well placed to drive Bebo’s effort to strengthen its foothold within the highly competitive social networking arena,” said Tim Armstrong, Chairman and Chief Executive Officer, AOL.

Bebo launched in 2005. It is a social media network that combines community, connections, self-expression and entertainment via a range of social tools, games and a growing mobile platform. Bebo has a strong user base across the globe, including in the U.S., the UK, Ireland, Australia, New Zealand, Canada, Poland, France, Germany, Italy, Spain, India, Pakistan and the Netherlands.

Location: USA, Los Angeles, CA

Ref: F231109-502

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Morningstar Europe acquires the remaining 75% of Morningstar Danmark

June 17, 2010 — Fusion DigiNet

This article was updated on July 1, 2010

Morningstar Europe, a subsidiary of Morningstar, Inc., a leading provider of independent investment research, has entered into a definitive agreement to acquire a 75 percent ownership interest in Morningstar Danmark A/S from Phosphorus A/S, bringing its ownership to 100 percent. Morningstar will pay Phosphorus A/S U.S. $15.2 million, or approximately DKK 91 million, plus an amount for its share of first-half 2010 net profits. The companies expect to complete the transaction in July, subject to customary closing conditions.

Located in Copenhagen, Morningstar Danmark was established in 2001 by Morningstar Europe and Phosphorus A/S, a Danish company. The company’s main offering is the investment information website for individual investors, Morningstar.dk, which provides fund and ETF data, portfolio tools, and market analysis.

“Together with Phosphorus and the local management team, we’ve been providing investment data and software to the Danish market for more than eight years, and the company already has a well-respected brand in the industry,” said Joe Mansueto, chairman and chief executive officer of Morningstar. “As sole owner, we plan to offer Morningstar’s full suite of products and services to investors in Denmark, and leverage Morningstar’s global reach, investment databases, and technology expertise to better serve our clients. The leadership of Peter Meyer and Torben Bruun has been instrumental in building a solid foundation for Morningstar in Denmark and we look forward to expanding the business with them there.”

Morningstar Danmark has 11 employees based in Copenhagen. Peter Meyer, chief executive officer, and Torben Bruun, chief operating officer, will continue to lead the company.

Location: Europe, Denmark

Ref: F231109-501

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Video gamer network Machinima.com raises $9 Million

June 15, 2010 — Fusion DigiNet

Machinima.com, the online entertainment network for video gamers, has raised a $9 million Series B round of financing from Redpoint Ventures, a leading, early stage venture capital firm based in Menlo Park, CA with offices in Los Angeles, CA and Shanghai. Machinima.com says it has seen a 300% audience growth in th last year and last month delivered over 127 million video views to over 27 million uniques. The new funds will be used accelerate further growth.

Geoff Yang, a partner at Redpoint Ventures, and a serial early-stage backer of successful web ventures including Ask Jeeves, Excite, Gaia Online, Homeaway, Juniper Networks, MySpace, Netflix, Scribd and Tivo will join the board of directors of Machinima.com

“We are extremely excited about this new partnership with Redpoint Ventures and Geoff Yang”, said Machinima.com CEO and Chairman Allen DeBevoise. “This capital infusion will enable us to further expand the scale, reach and engagement of our community while delivering the best global marketing platform for video games on the planet to our customers and partners.”
 
Location: Los Angeles, CA

Ref: F231109-500

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News Corporation acquires Skiff and makes an investment in Journalism Online

June 15, 2010 — Fusion DigiNet

News Corp. has acquired Skiff, Hearst Corporation’s e-reading platform designed to deliver premium journalism to tablets, smartphones, e- readers and netbooks. The Company also announced an investment in Journalism Online, the venture dedicated to enabling newspapers, magazines and online-only publishers of quality content to collect revenue from their online readers. The financial terms of both agreements were not disclosed.

“Journalism co-founder Gordon Crovitz added, “We’re especially pleased with this investment because News Corp. is the industry leader in making the case that there is value in journalism online for which readers will be willing to pay.”

“Today’s developments underscore News Corporation’s ongoing commitment to create strong business models that support journalism at a time of great change in our industry,” said Jon Miller, Chief Digital Officer, News Corporation. “Both Skiff and Journalism Online serve as key building blocks in our strategy to transform the publishing industry and ensure consumers will have continued access to the highest quality journalism.”

“We’re delighted by this investment and this vote of confidence,” said Journalism Online co-founder Steven Brill. “Journalism co-founder Gordon Crovitz added, “We’re especially pleased with this investment because News Corp. is the industry leader in making the case that there is value in journalism online for which readers will be willing to pay.”

Location: USA, New York

Ref: F231109-498

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Ancestry.com to acquire Sweden’s Genline.se

June 15, 2010 — Fusion DigiNet

Ancestry.com has agreed to acquire the Swedish family history website Genline.se. The total consideration for Genline is approximately 53 million Swedish kronor (around US$6.7 million).

Genline currently has more than 17,000 paying members with access to 26 million pages of digitized Swedish church records spanning more than 400 years from the 16th to the 20th century. 2009 reported revenue was $2.4 million. Genline trades on the Stockholm exchange AktiTorget under the ticker symbol GENL.

Ancestry.com has put online over five billion records and created nearly 17 million family trees containing 1.7 billion profiles. They have web properties directed at nine countries.

Josh Hanna, SVP and General Manager, International, Ancestry.com Inc., comments: “The Genline.se transaction, our first international acquisition, represents an exciting opportunity for Ancestry.com to access Sweden’s avid family history community and to provide Ancestry.com subscribers of Swedish heritage in the U.S. and other markets with access to important historical content.

Location: Ancestry.com – USA, Provo, UT Genline.se Sweden, Johanneshov

Ref: F231109-496

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Forbes Media is to sell its financial education web site Investopedia

June 14, 2010 — Fusion DigiNet

Forbes Media has announced that it is to sell its financial education web site Investopedia. The Jordan, Edmiston Group has been retained as the adviser for the sale.

Edmonton‐based Investopedia was acquired by Forbes Media in 2007. The web site offers unique and valuable financial and investor education through its extensive financial dictionary with over 9,000 terms used in personal finance, banking, and accounting and through its content generated by financial experts and editorial staff. Forbes say that the move is part of a larger strategy shift for Forbes Digital.

Location: Canada, Edmonton, AB 

Ref: F231109-495

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Martini Media Network raises $6 million led by Reed Elsevier Ventures

June 14, 2010 — Fusion DigiNet

Martini Media Network, a media company targeting affluent consumers online, has closed a $6 million Series B financing.  The round was led by Reed Elsevier Ventures and joined by Granite Ventures and Venrock. 

Reed Elsevier Ventures is the corporate venture capital fund for Reed Elsevier, the media giant thaat has recently been selling off its magazine businesses. Reed Elsevier Ventures was founded in 2000 and has made investments in the US, Europe and Israel.  Initially seeded with $100m, the fund focuses on investments in internet, media and technology companies. Current Investments include Fina Technologies,  Healthline Networks, Intelligize, Palantir Technologies, PartMiner and Recruiting.com.

“Martini is a very compelling investment opportunity for Reed Elsevier Ventures.  The company’s approach to this market segment is highly differentiated,” said Kevin Brown, partner at Reed Elsevier Ventures.   “There is deep value in capturing key consumers in both their professional and personal lives and Martini Media is the emerging expert in targeting the affluent for premium advertisers.”

Location: USA, San Francisco, CA

Ref: F231109-494

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