Comcast buys social networking site
By Leah McBride Mensching, Thursday 15 May 2008 at 23:53 :: Media Ownership :: #1670 :: rss
Social networking site Plaxo Inc. announced in a blog post it will be purchased by Comcast Corp., the largest cable operator in the United States, the Silicon Valley/San Jose Business Journal reported Thursday.
Although Plaxo CEO Ben Golub did not disclose the selling price, Reuters reported Comcast paid between US$145 million and $175 million.
Plaxo is based in Mountain View, Calif., and focuses on turning online address books into social networks, the Business Journal reported.
“Comcast has an exciting vision to bring the social media experience to mainstream consumers,” Golub wrote, according to the Business Journal. “Together, we will be able to help users connect with all the people they care about, across all of the devices they use, with all the media they love to consume, create and share. This is also great news for the Internet industry at large, where Plaxo has been – and will continue to be – a strong advocate for opening up the social Web.”
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