Let the Bidding War Begin!
Q: If you're a company that publishes around 130 85 weblogs most people have never heard of, pays few or none of those bloggers a liveable salary, and has a reported 15 employees overall, how much is your company worth?
A: $25 million, apparently.
Dot-bubble huckster turned late-blooming blog evangelist Jason Calacanis has apparently sold his Weblogs, Inc. to that Big Brother who never was, AOL. No doubt about it—this is just fantastic news for everybody (lowly bloggers, blowsy bullshitters, '90s nostalgics, and those of us who fondly remember the days when dollar-a-word tech/biz writing assignments fell out of the sky like fat peaches from God) … with the probable exception of AOL shareholders, who arguably are getting what they deserve, anyway.
Press release here.
More reaction over at BuzzMachine.
The one Calacanis site I've enjoyed: Dallas Mavericks owner (and Weblogs, Inc. investor) Mark Cuban.
In July, I asked the eternal question: "Major media companies are investing in blogs. Is this a new boom or just a bubble?"
And fear not—Lou Dobbs' Space.com is still publishing something amazing every day.