alarm:clock

Video - Tuesday, May 22, 2007

Wallstrip Bought By CBS

This deal was so well covered before it was officially announced that coverage today will be that a bit ho hum. Wallstrip acknowledges that it was bought by CBS for a sum in the single digit millions, although they say it was not $5M. Lindzon acknowledges that he was shopping the business around rather than trying to raise another round.

For those of you who want to be acquired by CBS, WallStrip founder Howard London offers some advise. Lindon says that CBS digital front-man Quincy Smith liked WallStrip's broad syndication approach, where fans could view it on Wallstrip.com, TheStreet.com, YouTube and elsewhere.

Another key here was that Wallstrip pounded the boards of the blogosphere, networking hard to gain visibility.

Lindzon, an investment advisor and fund manager, says he created the short-form show to provide an alternative to unnecessarily complicated stock market analysis. In fact its really more of an entertainment and humor program that happens to be about busienss.

Wallstrip had raised $600K from a group of angel investors including VCs Fred Wilson and Brad Feld, but still had much of that money in the bank, according to Lindzon. The talen and crew will all have jobs with CBS.

Wallstrip does a self deprecating announcement video that features Quincy Smith. View it here.

Read - CBS Does Indeed Buy Wallstrip (New TeeVee)
Read - CBS Acquires Wallstrip - You Can Make Money From Blogging!!! (Announcement)