Comcast to buy social networking startup Plaxo

Comcast to buy social networking startup Plaxo

The exact value of the transaction is not disclosed

Tuesday, May 20, 2008

Email This

Print This

Comments

RSS

BANGALORE, INDIA: US-based cable-TV company Comcast Corp will acquire social networking start-up Plaxo Inc.

Terms of the transaction were not disclosed. But sources put the value up to $175 million.

"Comcast has an exciting vision to bring the social media experience to mainstream consumers," Plaxo has said.

Plaxo, founded in 2001, offers an online address book service that can automatically update contact information, and last August started a more traditional social networking service called Plaxo Pulse.

According to sources, Comcast proposes to use Plaxo to give its consumers social network links across all Comcast-connected devices including TVs, digital video recorders, wireless devices.

Plaxo will join its fast-growing Comcast Interactive Media unit which includes Comcast.net, video entertainment site Fancast, movie site Fandango and theplatform, an online video delivery site.

According to Plaxo, until the deal is closed, the company will remain an independent operation, keeping on all 50 of its employees and working on growing its networked address book features, and Plaxo Pulse as well.

©CyberMedia News

Email This

Print This

Comments

RSS

Interact, Collaborate & Share

With Lotus Quickr your everyday business content can be easily shared, enabling operational efficiency. Download the Lotus Quickr demo to learn how.

know more..

	Save 40% energy on data solutions
	Try visual studio 2008. It’s Free
	Complexicity or Simplicity - Choose

	Motorola : Good Mobile Messaging
	Smart Enterprises = Smart CIOs
	TAM : Freedom from password management

	Mahindra Connect benefits from SharePoint Server 2007
	Solving the "lost data" problem
	Wipro meets its future demands through E-Cube

	HP Business Availability Center
	Transforming Business
	Aligning IT and Business