2 Comments

Summary:

After a long auction process and going through multiple suitors, almost giving up on the process, and coming close to selling to at least on…

imageAfter a long auction process and going through multiple suitors, almost giving up on the process, and coming close to selling to at least one of them, the media jobs, events and info site Mediabistro has been sold to Jupitermedia for $23 million — $20 million is in cash and an additional $3 million over two years. The NYT has the story. This comes close to what the company hoped for ($25 million or so) when it started the M&A process in early first half od 2006, though one would have expected the valuation to go up in the almost two years time since then.

Mediabistro was started in 1996 by founder and CEO Laurel Touby, and has grown from a jobs site into one that organizes training seminars, has various media-related blogs, and other premium services… Touby will remain with Jupiter as a SVP.

For Jupitermedia, which recently raised a $115 million line of credit, this is its second jobs site buy: late last year it bought JustTechJobs.com, an online tech job site.

By Rafat Ali

You're subscribed! If you like, you can update your settings

Related stories

  1. re: "This comes close to what the company hoped for ($25 million or so) when it started the M&A process in early 2006, though one would have expected the valuation to go up in the almost two years since then."

    Why, Rafat? Maybe she was over-reaching two years ago. The market had two years to kick the tires on this one. The market set the valuation — not the price she set two years ago. (Besides, pocketing eight-figures is phenomenal no matter when or who or how. I'm in awe.)

    Share
  2. I suppose you're right…the market did decide. I was making extrapolations based on their initial expectations. Laurel does deserve all the credit for making this happen, and the price she got.

    Share

Comments have been disabled for this post