CBS Buys for $280M

(via BBC News)

CBS just picked up one of the darlings of the Web 2.0 world, for $280M. The site “allows users to connect with other listeners with similar music tastes, to custom-build their own radio stations and to watch music video-clips. The online network was founded in the UK five years ago and it now has more than 15 million active users. As part of the deal,’s managing team will remain in place and the site will maintain its own separate identity. ”

What it means: great acquisition by CBS as is a very interesting site and application. Interesting also: CBS will maintain’s separate identity. It seems like this is happening more and more when large media corporations acquire smaller Web 2.0 start-ups. The Flickr example comes to mind. I think media companies are realizing that innovation happens in smaller, tightly-knit teams.


4 thoughts on “CBS Buys for $280M

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s