Acquired By AFCV Holdings For $127 Million


Credit: Margaret_Anne_Clarke

As the social Q&A space heats up, with a lot of attention going to new sites like Quora and the mobile searcher ChaCha, (NSDQ: ANSW) has decided to sell itself to PE firm AFCV Holdings for $127 million in an all stock deal. The transaction is expected to close sometime in Q2.

Unlike Quora and Facebook’s Q&A, service, which relies on a dialog among people within a social network, combines responses from general internet users with information from reference sites like Wikipedia, the Encyclopedia Britannica, and the American Heritage Dictionary. has been around a while and has been trying to ride this latest wave of interest in the Q&A format. The other established entity in the space, IAC’s, has tried several different formats to turn itself into a stronger business, but has had difficulty gaining traction.

It’s not clear what AFCV plans to do with, but at least the timing is right to try something new. Release

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