Clipmarks In Talks With Forbes Inc. For Potential Acquisition

Posted Aug 7, 2007

Clipmarks is a New York-based bookmarking tool that allows users to clip the best parts of web pages.  It doesn’t matter whether its a videos, images, or text.  The clippings can be private or public.  ClipSearch is a feature within Clipmarks that allows users to search within the content that is clipped.

VentureBeat ran a story that Forbes Inc. is buying Clipmarks for the use of giving their journalists a tool to find the important parts of given story references.  Roger McNamee, a Director of Forbes wrote that the story was ran a bit prematurely, “but only by a little[1].”

Forbes has 700 employees and made $78.80 million in revenues at the 2007 fiscal year end.  Forbes directly competes against Dow Jones, which is being acquired by News Corp. for up to $5.6 billion.  Forbes is also rumored to be in the midst of leaving their headquarters to move into an office that will house all of Forbes’ units.  Elevation Partners, an investment company that includes Bono (of rock band, U2) bought 40% stake in Forbes about a year ago.

[1] VentureBeat: Forbes buys social bookmarking site Clipmarks