Blog Post

Forbes In Process Of Buying Social Bookmarking Service Clipmarks?

So VentureBeat reported that Forbes has bought social bookmarking service Clipmarks, but was quickly half-quashed clarified by Clipmarks CEO Eric Goldstein here, and by Forbes investor Roger Macnamee in the comments of VB post, that the deal hasn’t fully happened yet. Looks like someone leaked it a bit early, and the papers haven’t yet been signed. the due diligence process is still going on, or that Forbes is thinking of making a strategic investment into Clipmarks parent Amplify. Some background: Amplify, the parent company of Clipmarks, was a service that launched twice, once in 2002 and again in 2004, and failed. Clipmarks came out of that in 2005, though I am not sure what the relationship with the previous management was/is.

What is happening is that Forbes.com will integrate Clipmarks’ service into its site. And Macnamee elaborates a bit on the slightly-tangential reasoning of using such a service: “Forbes is committed to transforming business journalism so that our audience gets more insight about business and investing in a lot less time. We think Clipmarks will play a really key role in this. We are committed to supporting Eric and his team as the continue to develop the Clipmarks site. In addition, they will embed the technology in the Forbes.com site to ensure that this amazing functionality is available to our editors and readers.”

Macnamee and Forbes.com CEO Jim Spanfeller will be speaking at our “Future of Business Media” conference on Oct 30th in NYC. More on their views about “transforming business journalism” then.

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