Advertising - Tuesday, September 4, 2007
Sold: Blue Lithium Goes To Yahoo For $300M
We are big fans of Blue Lithium and its potential. So we are surprised to see it sell at this point to Yahoo for $300M (all cash). BlueLithium was serving 100M+ unique users and reached more than 60% of US internet users. It is reported to have done $100M+ in revenue in 2006. Blue Lithium is a San Jose-based behavioral ad network that was founded in January 2004.
The deal represents another big sale for CEO and Chairman Gurbaksh Chahal. He previously founded Click Agents in December 1998. Two years later he sold it in a deal valued at up to $70M to ValueClick (Nasdaq: VCLK) to create the largest internet advertising network. From 1998 until 2000, Gurbaksh retained the role as Chairman and CEO.
We think this is also a great deal for Yahoo which is buying more great ad technology, advertiser and publisher reach and growth minded managers.
Read - announcement
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