Releaselog

LiveJournal bought by Russian company

Posted on 03.12.2007 at 14:55 in Tech News by Martin

The owner of LiveJournal, a blogging and social-networking site, agreed yesterday to sell the company to SUP, a Russian online media company, in the latest example of deal-making in the social-networking sector. Financial terms of SUP’s deal with Six Apart, which owns LiveJournal, were not disclosed. As part of the deal, SUP will create an American management company, LiveJournal Inc., to manage the social network’s operations. SUP will also form an advisory board that includes Brad Fitzpatrick, LiveJournal’s founder who now works for Google.

Though its biggest user base is the United States, LiveJournal has become exceedingly popular in Russia, finding about 28 percent of its audience there. Last year, SUP struck a licensing deal with Six Apart to manage LiveJournal.ru, the site’s Russian component. Ever since the News Corporation bought MySpace in 2005 for $580 million and saw its value skyrocket along with the site’s popularity, media companies have seen social-networking as a field ripe for the picking. Two months ago, Google and Microsoft dueled over the right to buy a stake in Facebook, the site du jour. Microsoft prevailed and paid $240 million for a 1.6 percent stake. One would never believe how much money these web applications cost.

Source: NY Times 

* Comments(9)

Comments (9)

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  1. KsK
    December 3rd, 2007 | 14:59

    OMG!!! Commies = evil!!!11

  2. heynotreally
    December 3rd, 2007 | 15:34

    owned

  3. []D[][]\/[][]D
    December 3rd, 2007 | 16:10

    tird! 3rd fooollllzzzz yea snapp boyeeee… now wha up foo’s!

  4. Nukem
    December 3rd, 2007 | 16:12

    Suddenly I don’t want to comment here.

  5. essequemodeia
    December 3rd, 2007 | 17:15

    Do Russian hackers hack russian od?

  6. normal_dude
    December 3rd, 2007 | 17:32

    grow up and write about something interesting

    in case your interested, http://www.rlslog.net is worth US$0.04c

  7. pRs
    December 3rd, 2007 | 22:18

    #6..

    funny…
    but their ad revenue & hits per day
    make them far more valuable than you think

    kinda funny how millions even billions amount of money
    is thrown around on something that has no concrete value…

  8. rlslog_sucks_ghey_balls
    December 3rd, 2007 | 23:56

    #7

    lolz putting ads up means nothing, its measured in how many clicks the ads get …

    ads on rlslog get NO clicks and the site fetaures illegal content, so nobody would ever pay more than 4cents for rlslog.net and that includes the domain name

    in fact, since its likely there will be legal action towards the owners of this site, there is a good argument to say rlslog.net has negative equity, meaning I would not take the site from Martin if he offered me £10000

    dream on sweet cheeks

  9. tucker
    December 4th, 2007 | 01:01

    RLGLOG.net is the next Google!

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