Troubled Insider Pages Acquired By CitySearch
Written by on March 1st, 2007 in Ajax News.
The Insider Pages acquisition rumors that we posted on last week were accurate - later today Citysearch, a division of InterActive Corp., will announce that they have acquired the company.
The size of the transaction is not being disclosed, although our understanding from a source close to the deal is that the price is in the $13 million range. The company had previously raised approximately $9 million in venture financing from idealab, Sequoia Capital, and Softbank Capital.
Insider Pages went through a round of heavy layoffs in late 2006 in the face of intense competition from Yelp, Judy’s Book and others. The site has 2 million unique monthly U.S. visitors according to Comscore.
Update: The WSJ is now reporting this as well.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/97812189/