Community Connect bought buy RadioOne for $38 million
Community Connect was purchased by RadioOne today for $38 million. We broke the news first on Community Connect being up for sale back in February. Community Connect owns BlackPlanet.com, MiGente.com, and AsianAve.com. This is a major move in the space as RadioOne continues to make strategic decisions regarding their interactive venture, InteractiveOne.
Category: News, Social Networking, Strategy, Trends, web 2.0 | Tags: Alfred Liggins, AsianAve, BlackPlanet, Cathy Hughes, community connect, InteractiveOne, migente, RadioOne, RadioOne Networks
About the Author Angela Benton is the Founder and Publisher of BlackWeb20.com. Her experience spans a variety of industries including consultative relationships with companies such as UPS, Bizjournals.com, Realestate.com, and Lendingtree.com.
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Living in maryland not to far from tvone i am very happy for them i hope this will inprove there programing to open up to more people like 93.9 WKYS and TVone the tv station which is owned by radio one.
@ MrAfrica I agree, I think this is part of the reason why it sold for such a low price.
That is correct, but you must also look at the type of people BlackPlanet is attracting… I would never advertise on such a site…
Its a great acquisition for Radio One, but a very sad day for minority owned and focused internet start ups. If a company like Communty Connect can only get a $38 Million dollar valuation, and a site like Meebo can get a $850 million dollars valuation and acquisition, and it has less then half the traffic of CC’s one property, Blackplanet.com, its a very sad day indeed.
A quick query on Compete can show you what I mean:
http://siteanalytics.compete.com/blackplanet.com+meebo.com+myspace.com/?metric=uv
Toby “URBANTECH” Morning