2008 August 05 | money news blog

Archive for August 5th, 2008

05 08 2008

Comcast chomps on Daily Candy

Posted by: in Small Business

Filed under: Comcast Cl’A’ (CMCSA), Small business

Dany Levy, who got her begin as a journalist, is the mastermind behind the highly successful email newsletter platform, the Daily Candy (established in 2000). She even got investment capital from top players, such as Bob Pittman (the founder of MTV).

Well, this week Comcast (Nasdaq: CMCSA) agreed to shell out $125 million for the Daily Candy.

Basically, the Daily Candy is a purveyor of hip/fashionable content - geared to women. True, there are only 2.5 million email subscribers. However, they are highly desirable for advertisers. The Daily Candy’s user base has a median age of 31; has $75,000 in income; and 96% read the email every day. Oh, and 66% of them have bought something they read about from the Daily Candy.

Currently, there are local editions in 12 cities. Even though, with the heft from Comcast, I’m sure this number will expand. There should also be some nice synergy with the advertiser base as well as cable assets like the E! Entertainment channel.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar On the web Guide to Decoding Financial Statements. He also operates MergerBook.com.

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05 08 2008

The Bader Home, Estate of the Day

Posted by: in Real Estate News

Filed under: Estates

I’ve got a ton of photos on this one but it’s worth it. The Bader House is billed as the ultimate bachelor home and indeed, I think just about anyone would swoon if invited inside. This home is the ultimate in modern design and Hollywood glam. Located in the hills in West Hollywood and perched above the Sunset Strip, this one has all sorts of features designed to tempt. The floor-to-ceiling walls of glass show off sparkling nighttime views. Super sexy architectural details includes a parking spot in the living room, a mechanical dining room table, and a sensuous fire elevating from an open pit. The home has just two bedrooms but it does have a home theater and a gourmet kitchen. At $5.995 million, it could make some Hollywood lothario and his Porsche very happy.

For more prime properties and lush locations, see Luxury Homes and Mansions.

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05 08 2008

Friendster is still alive and well … and gets $20 million

Posted by: in Small Business

Filed under: Deals, Google (GOOG), Next big thing, Small business

Founded in 2002 - during the dark times of the World wide web - Friendster became one of the pioneers of the social networking space. The company swiftly got traction and even attracted the interest of Google (NASDAQ: GOOG). But, of course, MySpace and Facebook had ultimately beat out Friendster.

Yet, the plucky website hasn’t given up. In fact, the company has announced a $20 million round of venture capital. The investors include heavyweights like IDG Ventures, Kleiner Perkins Caufield & Byers, Benchmark Capital, DAG Ventures and Founders Fund. In all, Friendster has raised $50 million.

Actually, Friendster is ranked as the 9th most trafficked site in the world, with a heavy penetration in Asia where it is the #1 social networking platform. There are about 75 million registered users.

Interestingly enough, Friendster has a broad portfolio of patents, which perhaps can be used as leverage when combating its rivals. What’s more, the company has done quite well in terms of adding features and providing a good user experience.

To help keep things on the right track, Friendster has hired Richard Kimber as its CEO. He was formerly a regional managing director of South Asia for Google. Apparently, he’ll be spending much of his time in Asia, trying to put together partnerships.

While social networking seems to be maturing in the U.S., there still are great opportunities in foreign markets. Furthermore, with $20 million more in the bank, Friendster can broaden its footprint and perhaps be a hot property for an acquisition.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar On the internet Guide to Decoding Financial Statements. He also operates MergerBook.com.

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05 08 2008