Dow Jones (NYSE: NWS), now part of News Corp. has done an unusual strategic investment: it has invested in Tributes.com, a new obits site which is a spinoff from boomers social network Eons founded by Monster founder Jeff Taylor. The total funding is about $4.3 million, according to FinancialPost, though the company has not officially disclosed it. The story says the investment is from Dow Jones, Eons and other strategic investors.
Elaine Haney, who will serve as president of Tributes, said the goal is to build a reliable destination where people can get timely information on obituaries and service information. The site will also partner directly with funeral homes. It will be in tough competition with established sites such as Legacy.com.
Meanwhile, Eons hasn’t been burning the charts,despite being heavily funded to the tune of $32 million, and its troubles have been well documented in this NYT story which came out this weekend. The company, which initially had an age barrier (only 49 year olds and above could become a member), took down that wall, and caught a lot of ire from its members for diluting its focus. Back in September, it laid off a third of its employees. Also with this funding, the company is relaunching Eons site. Some more details in this Xconomy story as well.