Media Bistro: Is $20 Million Really Too Much?
By jason - up to 2007 (archived) • Jul 25th, 2007 • Category: News for Creatives (archives)FolioMag reports:
Jupitermedia’s surprise acquisition of Mediabistro raises the question of where its primary interest lies: The job board or the community?
“News that Jupitermedia Corp. this week acquired Mediabistro.com Inc. for $20 million had a number of industry professionals scratching their heads, wondering why a stock photography and digital media provider would pony up so much to purchase a Web site with a job board as its primary source of revenue. Others found the deal less hard to believe.
“I don’t think there is anything extraordinary about the purchase price,” says Thomas Kemp, a managing director with Veronis Suhler Stevenson. “In deals for online businesses, the valuations need to be justified based on the financial performance and potential growth. Right now, online businesses have greater potential for growth than print.”
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