30 Million Dollar Payday: Blog Avatar Cashes Out
It happened 6 months before we expected, but on Thursday Jason Calacanis sold his fledgling blogging company to AOL.Smart move for AOL, who will be able to penetrate the blogging space and acquire a solid product portfolio without having to go at it from scratch.
And a timely exit strategy for Calacanis, who had recently posted on his own blog that traffic and advertising demand was so high that the privately held Weblogs Inc couldn't book any new ad partners until 2006.
Thursday's deal illustrates that blogs, which collect revenue through advertsing, are not waning in popularity.
Nor are they safehavens for journalists without jobs, as they have sometimes been labeled.
Calacanis and his cadre of bloggers will retain complete editorial control over the network.
AOL Time Warner (TWX), which has been getting heavy face time as of late because of deal/spinoff speculations, is gradually resuscitating itself from the Bubble debris.
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