Friday, November 17, 2006

Bix.com Acquired by Yahoo!

Yet another site has just been acquired in the web 2.0 age as reported by TechCrunch today:

Online karaoke and contest site Bix has signed an agreement to be acquired by Yahoo! Bix CEO Mike Speiser will continue running Bix but will also take on responsibility for product management for Yahoo! Groups, 360, and Photos under the title VP of Community.

Speiser was previously the founder of Epinions. Epinions was acquired by Shopping.com (then DealTime.com) in 2003, which in turn was acquired by Ebay in 2005. Epinions had an estimated valuation of $30 million at the time of acquisition. The terms of the Bix acquisition weren’t disclosed but it was probably for much less than Epinions; Yahoo! was rumored to have paid $15 million for online video editing company Jumpcut last month. Bix probably got a little less than that but Yahoo! got a seasoned social media man to put in charge of a number of product management at the company’s most social products.

Full story...

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