CNET Has Acquired 55BBS
Fresh after being acquired by CBS, CNET has made an acquisition of their own.Â CNET China bought 55BBS.com, a Chinese lifestyle forum website.Â President of CNET China, Lu Wang announced that they paid over 10 million yuan ($1.45 million) cash for the site.
Given 55BBS.com’s traffic ranking, the acquisition amount seems pretty low.Â But it does give Hua Han, founder of 55BBS a pretty nice payday.Â 55BBS’ primary content is shopping, food, wedding, travel, etc.Â There are over 800,000 users that submit 100,000 posts daily.
This is one of the first major acquisitions made by CNET China since they bough Xcar, a Chinese automotive forum in July 2006.Â CNET also bough Fengniao, a Chinese photography website in October 2004.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry