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Start-up Awarded $50 MILLION to BUY Online Media Businesses

ocbj.com — Small business owners... LISTEN UP! An Orange County, CA start-up company was awarded $50 MILLION by venture capital firm Austin Ventures, to start a holding company that is set to buy online media businesses. Time to CASH IN on that .tv domain you've been developing! The company will buy startups in online advertising, marketing and digital media.

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  • HuskyPuzzle, on 06/24/2008, -0/+3Hmmm...interesting. Don't usually see VC's raising $50M for a small start-up to make acquisitions but I guess this is going to just be more of a holding company. Not impressed by the CEO though -- he sold MySpace to Murdoch for way too little.
  • westbay1, on 06/24/2008, -0/+2I am very interested to see where this is going. Of course, the end goal being to control the valuable traffic, and therefore advertising revenues these sites and businesses generate. I know LOTS of online business owners that would sell out for $1k... $50 Million is quite a bit!
  • Surferess, on 06/24/2008, -0/+2Rather than looking at this as a potential money-making strategy, as you are, Westbay, I would tend to question the reason Austin Ventures wants to buy up these online media outlets that have already been established. It should be noted that heads of media corporations wield great power over content, case in point Rupert Murdock.
    • westbay1, on 06/24/2008, -0/+1Very very true... controlling WHAT people see, read, and hear is even more important than making a quick buck. Hopefully the newly acquired online media companies don't ultimately end up in the hands of... FOX NEWS ie News Corporation.
  • bixby1, on 06/25/2008, -0/+2I think a mistake has been made. Is there a very important decimal point out of place?
  • BillionWishlist, on 07/01/2008, -0/+0I wish I owned that company. That would be the best job!
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