TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Posts Tagged ‘acquisitions’

Facebook Buys, Kills Drop.io

Facebook has purchased most of Brooklyn-based startup Drop.io in what appears to be a move to hire its CEO Sam Lessin.

Drop.io, a service that let users quickly and privately share files, ended its free service this weekend, and paid accounts will last until Dec. 15, according to a company blog post. All files will be accessible until the Dec. 15 deadline. After that deadline, the company plans to delete all its stored data.

“We can confirm that we recently completed a small talent acquisition for drop.io and acquired most of the company’s assets. We’re thrilled that Sam Lessin will be joining us at Facebook,” said a Facebook spokesperson in a statement.

Drop.io explicitly stated that “no user data or content will be transferred to Facebook,” indicating that like Facebook’s buyout of Hot Potato earlier this year, the social network was strictly after executives. And they paid a pretty penny for Lessin.

Drop.io valued itself at $5.99 million, and raised $4.85 million earlier this year, according to an SEC filing. The terms of the Facebook buyout were not disclosed.

Mediabistro Course

Freelance Magazine Writing

Freelance Magazine WritingInstructor and journalist Jeryl Brunner has written for numerous publications including O, the Oprah Magazine, Travel + Leisure, VanityFair.com and more! Starting November 3, she'll teach you how to query specific publications, find resources for reporting, and create captivating stories that editors will want and readers will enjoy. Register now!

Could E&P Have Been Saved?

epOct09.jpgDid The Nielsen Co. have an opportunity to sell newspaper industry trade Editor & Publisher instead of shutting it down?

That’s what Alan Meckler, CEO WebMediaBrands, told FishbowlNY today. Meckler said his company, which also owns mediabistro.com, offered to take the pub off Nielsen’s hands several months ago. He said his company offered to pay nothing for the title, but was willing to take on all of their subscriber liability. Under WebMediaBrands’ oversight, E&P would have continued to produce content, although it’s likely its print version would not have survived the transition, Meckler said.

However, Nielsen declined the offer, claiming it could receive “millions” for the title, Meckler told us.

Today, E&P wrote the worst story a publication can ever produce: a report on its own closure. Reported the pub:

“The expressions of surprise and outpouring of strong support for E&P that have followed across the Web — Editor & Publisher has even hit No. 4 as a Twitter trending topic — raise the notion that the publication might yet continue in some form…As news spread of E&P‘s fate, the staffers have been inundated with calls from members of the industry it covers, and many others, expressing shock and hopes for a revival. Staff members will stay on for the remainder of 2009.”

The end of the article includes a way to contact all of the title’s staffers. Pretty smart. We think they’ll probably be getting some job offers soon.

‘Editor & Publisher’ to Cease Publication After 125 YearsEditor & Publisher