Media - Tuesday, February 8, 2005
About.com for About $400M
The blogosphere dislikes About.com. We've read several commentators poking fun at news that About.com is for sale and that media and search engines are bidding on it. About.com owner Primedia might earn in the range of $350M to $500M from the sale. We suspect bloggers don't like About.com because it's embarrassingly similar to blogging - the real difference being that it is centralized. People still can't get over the fact that Primedia bought About.com (AKA - the Mining Company) back in 2000 for $690M! But given the sick amount of traffic that About.com enjoys combined with the current prices for online advertising, this valuation clearly can be justified. The last big online media sale - Marketwatch which sold to Dow Jones for $519M - might have more credibility and perhaps a higher ad rate, but About.com gets a lot more sticky eyeballs.
Read - About.com Up For Sale... Again? (TechDirt)
Read - About.com, Primedia's Web Venture, Is for Sale (NY Times)
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