Fox Acquires Photobucket.com May 31, 2007
Posted by Mark Blei in : Uncategorized , trackbackFox Acquires Photobucket.com
Mike Shields
MAY 30, 2007 –
Fox Interactive Media has announced a pair of acquisitions that deepen the company’s commitment to user-generated content. As has been rumored for several weeks, the News Corp.-owned Web division has snatched up the photo sharing site Photobucket.com, which reached 19 million unique users based on the April 2007 figures from comScore Media Metrix, making it one of the larger remaining independent properties on the Internet.
In addition, FIM has landed Flektor, a complementary startup firm that produces several digital photo and video editing tools. Financial terms were not disclosed for either deal.
Though its been challenging to monetize photo sharing on the Web, the most obvious way FIM can utilize its two new assets will be to enhance MySpace, which is increasingly a multimedia playground for its millions of users. Already, according to Fox executives, 47 percent of all Photobucket users link their Web-posted digital photos to social networks like MySpace.
Besides MySpace, FIM officials said that Photobucket and Flektor will be used to bolster the company’s other Web brands, including the gamer-centric IGN and FoxSports.com. “The acquisition of these two companies is a perfect strategic fit for us that reinforces FIM’s leadership in user-generated content,” said Fox Interactive Media president Peter Levinsohn. “As a leading site for creative expression Photobucket extends our reach among personal media sharing enthusiasts and the innovative new entrant Flektor brings highly-differentiated new tools to the table that will drive the next generation. Together, they represent a powerful combination and we are thrilled for them to join our network.”
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