You know what keeps bloggers like me writing? Seeing other blogging companies succeed. Rafat Ali of paidContent writes like a madman everyday to give us the news that we like to read. And today his efforts have payed off. Guardian Media has acquired his company, ContentNext for over $30 million.
Through the acquisition, Guardian Media will have ownership of the following websites:
The acquisition will be an earn-out assuming that the websites maintain certain performance.
paidContent started in 2002 and they have offices in Santa Monica, Calif. and Manhattan. Greycroft Partners invested an undisclosed amount in paidContent in 2006. ContentNext is known for hosting several conferences.
ContentNext Media will operate independently under Guardian News & Media.
?I have admired paidContent for years. Rafat and his team personify the values of editorial independence and integrity that are core to the Guardian. I?m very happy to welcome the company into the expanding Guardian Media Group,? stated Carolyn McCall, CEO of Guardian Media Group.
1. Official announcement on paidContent