Tag Archives: websites

Expedia Inc. (EXPE) agreed to buy a majority stake in travel metasearch engine trivago for about EUR 477 million, expanding the Internet travel agent’s exposure in Europe.

The deal also increases consolidation in Expedia’s market following Inc.’s (PCLN) $1.8 billion purchase agreement for travel metasearch company Kayak Software Corp. (KYAK) last month.

Expedia will acquire 61.6% of trivago for about EUR477 million, or roughly $632 million–including EUR434 million in cash and EUR43 million in Expedia stock.

Founded seven years ago, trivago grew into one of the largest travel sites in Europe and now conducts more than 100 million hotel searches annually, Expedia said. The company is expected to deliver about EUR100 million in revenue for 2012.


A group of local investors agreed on Monday to buy Philadelphia Media Network Inc., the parent company of The Inquirer, Philadelphia Daily News, and, for $55 million with an additional $10 million in working capital for operations. The deal represents the fourth ownership change for the media properties in less than six years.

Led by businessman Lewis Katz, 70, and insurance executive and Democratic leader George E. Norcross III, 56, the group has agreed to buy PMN from a collection of hedge funds and other financial firms that have owned the daily newspapers and their related website since they emerged from bankruptcy in October 2010.
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General Cannabis Inc. has just announced that it’s acquired The company didn’t disclose the details of the deal, but we’ve confirmed that the acquisition price was $4.20 million.

Spotted at: TechCrunch

General Cannabis is a serious business: it’s traded on the OTCQX market, and a year ago it acquired WeedMaps, a popular ‘Yelp for Cannabis Dispensaries‘ site with a large following. WeedMaps was topping $400,000 a month in revenues at the time of the acquisition and it’s growing nicely — the site did over $1 million in gross revenues in July, and now sees 10 million page views a month.

The acquisition includes both the valuable domain name and the existing site/content, which currently consists of a bulletin forum that centers on cannabis discussion and generates 3.5 million page views per month. WeedMaps Media, which is a subsidiary of General Cannabis, will be ‘bridging’ its membership database with the forum’s, allowing WeedMaps users to log into with their existing accounts. The company says that it will also be expanding the amount of content and functionality available. The domain and site will be transfered early in 2012.

It’s obviously a pricey acquisition, but one that will likely pay dividends. is much easier to remember than General Cannabis or, and the company is positioning itself as the go-to place for information that’s relevant to cannabis users.

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