WebMediaBrands Acquires The Social Times and AllFacebook.com
WebMediaBrands Inc (NASDAQ:WEBM) has bought out The Social Times, the parent company of AllFacebook.com. Nick O’Neill will become the Director of Social Times at WebMediaBrands. The financial details were undisclosed. AllFacebook.com started about two and a half years ago and The Social Times blog several months later.
The acquisition also includes the company conference and the New Media School blog. WebMediaBrands is best known for owning MediaBistro.com. WebMediaBrands recently sold Internet.com for $180 million. O’Neill will be provided with additional resources to hire more writers. The Social Times receives about 500,000 unique visitors per month and 1 million pageviews per month.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry