Thursday, July 06, 2006 Being Bought by NBC |

Developing: So the rumors which Valleywag first reported on are true…NBC is buying the veteran social networking and online classifieds service, I have confirmed from my sources, though the deal is not supposed to be announced for some time to come. Susan Mernit has also confirmed it from her sources. This is the second online acquisition NBC has done after buying iVillage earlier this year for about $600 million"

Our analysis: the deal was done for probably less than $10M and investors, Mayfield, Knight Ridder, Washington Post who poured roughly $10m into the 20 some odd employee company made little, if any money back.

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