PALM BEACH, FL – The day was Wednesday, November 7, 2007, when LookSmart, Ltd, had announced via Yahoo Finance and Business Wire, that it has entered into a definitive agreement to sell the web site, domain and content associated with “FindArticles.com” to CNET Networks, Inc. in an all cash transaction valued at approximately $20.5 million.
What a difference twelve years in technology can make.
What was once seen as incredible opportunity by owning such vast amounts of content on the Internet, coupled with sophisticated features such as ‘email alerts’, ‘newsletters’, ‘rich site summary (RSS) feeds’ and ‘business blogs’ – the sky was clearly the limit.
According to an SEC filing and disclosure of assets in December 2007, FindArticles.com was listed with leading assets, one which:
produces original content, as well as offering an extensive collection of classic and current business white papers, case studies, webcasts, audiocasts and other interactive content, created and categorized for decision makers in a variety of business functions. In addition, through the acquisition of FindArticles, users have access to a library of 10 million resource articles from over 3,000 independent publishers. The site also offers targeted email alerts and newsletters, syndicated content available through rich site summary (RSS) feeds and business blogs for professionals throughout the enterprise.
Here is what the $20 million purchase looked like at the time:
At the time, CNET Networks owned many of the Internet’s leading sites such as GameSpot.com, TV.com, MP3.com, CNET news.com, and Search.com. The company had revenues of $406 million that same year in 2007 and went on to become CBS Interactive through acquisition in 2008.
About The Author: John Colascione is Chief Executive Officer of Internet Marketing Services Inc. He specializes in Website Monetization, is a Google AdWords Certified Professional, authored a ‘how to’ book called ”Mastering Your Website‘, and is a key player in several Internet related businesses through his search engine strategy brand Searchen Networks®