Thursday, October 23, 2008

Yahoo acquires Wretch for $21m

"Yahoo has won regulatory approval to acquire Taiwanese based social networking site for $21.2m.

The relatively unknown Wretch, which we covered back in February, is a Xanga style blogging and social networking destination extremely popular in Chinese language markets, with an Alexa ranking in 36, making the Yahoo acquisition a complete and utter bargain.

According to reports, the purchase had been held up by the Taiwanese Fair Trade Commission, who investigated complaints that the acquisition would give Yahoo Taiwan unfair control over Internet advertising rates in Taiwan, and excessive market share as well.

Wretch is
said to have 2.8 million members."

1 comment:

Anonymous said...

looks like a reasonable price...

yahoo has gotten some desirable internet real estate for decent prices.

although they really screwed up by not buying facebook.