Mergers & Bloguisitions
If blogs are the ultimate in navel-gazing, what better way to christen this one than with...an entry on blogs? Hard to write much new about them. Too much written already. (See this week's Fortune cover? Gack!!! Deal Flow's magic 8-ball foresees the blog backlash commencing in Oct. '05: "It is certain."). Om Malik, our blogging buddy and former colleague at Red Herring (the old-school version), delivered a scoopette this week: Blogging software maker Six Apart Ltd. will acquire blogging software maker LiveJournal. What will Six get for its "undisclosed stock and cash?" Some open source code and about 5.5 million users, few of which are paying customers. Still, could give a nice goose to Six's valuation if the price for LJ isn't bubblicious. To date, Six has raised about $12 million in two rounds from August Capital, Neoteny Co. Ltd., and Paypal cofounder Reid Hoffman. Has the great blogware consolidation begun?
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