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Dealipedia - LiveUniverse acquires Pageflakes

LiveUniverse acquires Pageflakes

Deal Participants:
Acquiring Company: LiveUniverse View Profile Charts Homepage
Target Company: Pageflakes View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Apr 18, 2008

PRESS RELEASE

HOLLYWOOD, Calif. and SAN FRANCISCO, April 18 /PRNewswire/ -- LiveUniverse, the social entertainment company founded and run by Chairman and CEO Brad Greenspan, the Hollywood-based entrepreneur and sole founder of MySpace, announced today that it has agreed to acquire Pageflakes, the innovator of the social personalized homepage. The transaction was a combination of cash and stock, but further terms are not being disclosed by the two privately-held companies. LiveUniverse will also provide several million dollars of online promotion from the over 35 websites that make up its network.

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The initial integration with Pageflakes will be with LiveUniverse's rapidly expanding video entertainment network, LiveVideo (www.LiveVideo.com), the Web's ultimate social networking, video entertainment, and interactive LiveShow platform. Users will now be able to easily remix and mashup their LiveVideo videos, photos, music, blogs and LiveShows with compelling interactive content from their favorite sites on the Web on their own LiveVideo start page. Users can also then "Pagecast" (share and publish) these pages within their LiveVideo social network or to everyone on the Web. Pageflakes technology will make it even easier for LiveVideo users to personalize the look, feel, and layout of their profiles and their video, photo, music, blog and LiveShow channels. Advertisers and promoters will also be able to use this new platform to feature brands, celebrities, and events by creating unique branded sites with interactive content that users can view, copy and share.

The acquisition combines one of the fastest-growing global media companies with Pageflakes' industry-leading personalization, widget and content aggregation technologies. The deal is highly complementary for both companies in terms of talent, technology and operations. It brings together Internet visionary, social networking pioneer and entrepreneur Brad Greenspan, with veteran ex-Google and Yahoo executive, entrepreneur and personalization expert Dan Cohen. The technology and R&D teams will now also include the original MySpace architect and technology entrepreneur Toan Nguyen, as well as AJAX and ASP.NET guru and Pageflakes co-founder Omar Al-Zabir. Both companies share a technology platform based on ASP.NET, which will speed integration and result in economies of scale. Further, LiveUniverse will now have operations in the technology capital of the world, Silicon Valley, in addition to its headquarters in Hollywood and its offices in Europe and Asia. LiveUniverse comprises over 35 global entertainment sites and is visited by over 50 million users each month.

"We've found incredible synergies between the two companies, so joining together was simply inevitable," said Brad Greenspan, Chairman, CEO and founder of LiveUniverse. "LiveVideo has been growing explosively by giving users the most compelling and interactive entertainment experience. Pageflakes offers LiveVideo and other LiveUniverse sites the ability to blaze new trails in the industry and create even greater opportunities for both consumers and advertisers."

"Pageflakes redefined the personalized homepage by making it an easy-to- use social experience that anyone can use and share," said Dan Cohen, CEO of Pageflakes. "We're absolutely thrilled to be working with Brad and LiveUniverse to reach millions of new users, as well as provide unique content and features to our current user community. The combination of our two companies is truly much bigger than the sum of its parts, and the resulting innovation will be highly compelling for our users and partners."

Upon closing the transaction, Pageflakes Inc. will become a wholly-owned subsidiary of LiveUniverse and remain based in San Francisco. Pageflakes CEO Dan Cohen will stay in his current role, and in addition will assume expanded duties as Senior Vice President of LiveUniverse reporting directly to Chairman and CEO Brad Greenspan.

About LiveUniverse

LiveUniverse is the privately-held social entertainment company founded and majority owned by Brad Greenspan, the Hollywood-based entrepreneur and sole founder of MySpace. LiveUniverse is one of the fastest growing media companies in the world, comprised of over 35 global entertainment sites visited by over 50 million users globally. Major networks include the LiveVideo Social Network, the TuneBlast Music network, and the LiveTime Viral Video Network.

About LiveVideo Network

LiveVideo Network is a group of six fast growing websites focused on online social entertainment. Flagship LiveVideo.com is the first fully interactive, global, live streaming video platform. It allows users to connect with others around the world 24 hours a day, 7 days a week, 365-days a year. Using its proprietary LiveShow technology, LiveVideo users can create and broadcast live content alone or in conjunction with friends, colleagues and/or newly acquainted users. Distinctive LiveShow interactive features such as LiveTextChat, LiveCoHost and LivePolls empower real time community and social interaction and provide users with unlimited real-time feedback and interaction. In addition, the advanced LiveShow platform allows advanced videographers to broadcast on their channel with multiple cameras to create professional broadcast-quality shows. LiveVideo.com is the most recent organically created platform launched by Brad Greenspan's LiveUniverse. The LiveVideo Network is seen by over 12 million visitors globally per month.

About Brad Greenspan

Brad Greenspan is a Los Angeles-based Internet Entrepreneur and the founder of MySpace. Greenspan currently has majority stakes in privately held Live Universe, Inc. and BroadWebAsia, which in aggregate are composed of over 30 websites that reach over 100 million unique users each month across the U.S./Europe/Asia. More information can be found at http://www.BradGreenspan.com. Brad also serves as non-executive Chairman of Borba, a fast growing privately held Los Angeles Based company in the Premium Branded health, enhanced water, and cosmetic sectors.

About Pageflakes

Pageflakes(TM), the community personalized homepage, is revolutionizing how we how we start with and use the Internet. At http://www.Pageflakes.com, you can easily customize the Internet and make it yours using '"Flakes" -- small, movable versions of all of your web favorites that you can arrange on your personal homepage. You can also participate in the Pageflakes community, sharing your page as a "Pagecast" with a private group or with the world, and connecting with other users across the globe. Over 235,000 Flakes and 140,000 Pagecasts are available for thousands of uses and interests, including news, sports, e-mail, local events, search, photos, music, videos -- even interactive tools like a calendar and a to-do list -- and just about anything else you do on the web at school, work and at home. The Pageflakes user community creates and helps each other discover more new Flakes and Pagecasts every day.

Pageflakes Inc. was founded in 2006 and is headquartered in San Francisco.

Contact:
Kathy Johnson
Consort Partners
(415) 823-9566
pageflakes@consortpartners.com

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Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746
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