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Mediabistro Sold for $23M, Feather Boas Futures Rise
By
Jen Chung
Published Jul 18, 2007
Modified Mar 7, 2008
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By
Jen Chung
Published Jul 18, 2007
Modified Mar 7, 2008
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Never has a feathered boa'd media cocktail party hostess looked so good. Mediabistro.com, the media and creative job listing website, was sold to Jupitermedia for $23 million, according to the NY Times. Jupitermedia will be paying $20 million in cash, then $3 million over two years, and Mediabistro.com founder Laurel Touby will be staying on a senior vice president. Jupitermedia also has job listings sites, in addition to their information and content offerings.
Touby told the Times, "This company is a true Internet success story. This started as an offline community, a cocktail party, that turned into this Web site that actually makes money." And the impatient, take note: Touby founded the company in 1996.
Via the Media Mob, who puts it "Laurel Touby has sold her media gossip/bulletin board/media YMCA superstructure for a lot of money...Now it is time to die." And Gawker reported that Touby was looking for a sale in the range of $25 million last November and revealed Touby's email to rejected candidates applying to be her assistant in February.
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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