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FIM Adds kSolo; Makes Newroo Acquisition Official

FIM is acknowledging the acquisition of real-time news aggregator Newroo, reported last month, and also has picked up kSolo, an online karaoke service, according to the Wall Street Journal. (sub. req.) KSolo, with about 150,000 thousand users, was founded by serial entrepreneur Nimrod Lev, who sold to Spark Networks. The deals are minor in cost … the Journal frames them as showing that FIM is keeping a close eye on young entrepreneurs although I never realized that was in question. What FIM is doing is trying add impact without running up much more in costs; one way to do that is to make small feature-set acquisitions that are also acq-hires.
The staffs of both are joining FIM — three from Newroo and 10 from kSolo, which will stay standalone. Features from both will be integrated across FIM, where execs are still working on integrating previous acquisitions. More details in the official release.
Related: Fox Interactive Acquires News Aggregator NewRoo