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Summary:

EXCLUSIVE: We had previously speculated that New York-based Fotolog would be the next one to get acquired. And we were right. It has been acquired by Hi Media, a Paris-based interactive media company for roughly $90 million — a combination of cash and stock, according to […]

EXCLUSIVE: We had previously speculated that New York-based Fotolog would be the next one to get acquired. And we were right. It has been acquired by Hi Media, a Paris-based interactive media company for roughly $90 million — a combination of cash and stock, according to well-placed sources. The announcement is likely to be made later today.

Hi-Media is Europe’s third-ranked interactive advertising agency and also a provider of electronic micro-payment solutions in France. This deal makes them one of the largest pure-play Internet companies in Europe. Fotolog CEO John Borthwick explained to us that Hi Media management believes that it can better monetize the traffic on Fotolog, and it also add a publishing-element to their over all business.

The deal, while not as rich as Fox Interactive’s $250 million buyout of Photobucket, is a darn good exit for a company that has been flying under the radar in the U.S. There were rumors that some Latin American acquirers were taking a hard look at Fotolog and the price tag was north of $100 million. Fotolog was started in May 2002, and since then has grown rapidly — in Europe and Latin America — and is one of the Alexa 25 companies.

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  1. Fotolog Sold for $90.000.000 Monday, August 27, 2007

    [...] [via: Fotolog Acquired by Hi Media, French Ad Network « GigaOM] advertising [...]

  2. Hi-Media Group Enters into Agreement to Acquire Fotolog at blogging.vc Monday, August 27, 2007

    [...] the official release. And here’s Om’s first take. Posted in Technology & [...]

  3. Next Google » Thinking Outside the US Monday, August 27, 2007

    [...] Fotolog is a case in point. I have just read that Hi Media, a Paris-based interactive media company, acquired it for roughly $90 million. [...]

  4. Fotolog Acquired by Hi Media, French Ad Network at Imaging Insider Monday, August 27, 2007

    [...] Read More… [...]

  5. Read/WriteWeb News Monday, August 27, 2007

    Hi Media Buys Fotolog for $90m

    French ad network Hi Media purchased Fotolog for a reported price of roughly $90 million. Click for full story from GigaOM…

  6. VentureBeat » Fotolog acquired by Hi-Media for $90 million Monday, August 27, 2007

    [...] Fotolog, a popular photo-sharing service, has been bought by France’s Hi-Media for $90 million, GigaOm reports. [...]

  7. StockPhotoTalk | Special Interest Blog Monday, August 27, 2007

    Photosharing and social networking site Fotolog to be sold to french Hi-Media Group for $90 Million

    While the world is talking about Getty Images´new revamped website and the new, low-priced ‘Web Resolution’ image (which Derick Rhodes of fStop Royalty-Free immediately discovered on Friday), the big news

  8. Marc’s Voice » Blog Archive » The end of the summer – blog links Monday, August 27, 2007

    [...] Congrats to Scott Heiferman, Adam Seifer and John Borthwick – on selling Fotolog. Fotolog was the original original social photo sharing site – before Flickr, delicious, Facebook, anything – there was Fotolog. It’s over five years old. They were wildly accepted in Brazil, Japan and elsewhere – but typical of the Arrington 50,000 – no one else had a clue what was going on. I was interviewed by 3i when they invested. Adam was the heart behind Fotolog while Scott ran MeetUp. They brought in Borthwick (apparently to ‘flip it.) And he did! [...]

  9. Hi-Media compra Fotolog en US$90 millones – FayerWayer Monday, August 27, 2007

    [...] Fotolog Acquired by Hi Media, French Ad Network (via [...]

  10. Fotolog, comprado por 90 millones Monday, August 27, 2007

    [...] Giga OM Prohibida su copia total con o sin fines comerciales. Copias parciales deben citar la fuente. [...]

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