Blog Post

Comcast Acquiring Social Networker Plaxo

imageComcast (NSDQ: CMCSA) has acquired social networker Plaxo. Terms of the deal weren’t disclosed in a Plaxo blog post announcing the news, but both TechCrunch and Reuters put the price tag in the $175 million range, but these numbers may be too high (see update below). Rumors of Plaxo’s sale have been floating around for awhile, with several of the usual names getting bandied about as possible acquirers. One report had Plaxo seeking $100 million. Comcast and Plaxo have already been partners since early last year. More after the jump

So what’s the idea here? The company will stay in Silicon Valley and become a part of Comcast Interactive Media. CEO Ben Golub explains: “Joining forces with Comcast is a real win for our customers, our investors, and our employees. Comcast has an exciting vision to bring the social media experience to mainstream consumers. Together, we will be able to help users connect with all the people they care about, across all of the devices they use, with all the media they love to consume, create, and share. This is also great news for the Internet industry at large, where Plaxo has been