Thu, Apr 10, 2008
Category: News, Social Networking, Strategy, Trends, Web 2.0
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.
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Angela - who has written 153 posts on Black Web 2.0.
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.
[...] to a report from Black Web 2.o, CommunityConnect which had been up for sale since February has been purchased by Cathy Hughes and [...]
[...] contact « Community Connect bought buy RadioOne for $38 million [...]
[...] deal with AllHipHop.com, the top online destination for Hip-Hop news. AllHipHop now joins the recently acquired Blackplanet.com, and Interactive One’s collection of web properties, including Newsone.com, Tvone, Giantmag.com, [...]
[...] too much traffic to settle with an ad group who has limited experience in online ad sales. Interactive One’s recent acquisition of Community Connect could bring some experience to their online ad sales division, but can AHH afford to wait for the [...]
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April 14th, 2008 at 12:33 pm
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
April 15th, 2008 at 3:42 pm
That is correct, but you must also look at the type of people BlackPlanet is attracting… I would never advertise on such a site…
April 15th, 2008 at 4:27 pm
@ MrAfrica I agree, I think this is part of the reason why it sold for such a low price.
April 16th, 2008 at 1:12 pm
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.