Community Connect bought buy RadioOne for $38 million

by Angela

April 10, 2008

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

urbantech

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.co...

Toby “URBANTECH” Morning

MrAfrica

That is correct, but you must also look at the type of people BlackPlanet is attracting... I would never advertise on such a site...

blackweb20

@ MrAfrica I agree, I think this is part of the reason why it sold for such a low price.

Kerwin

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.