Feeds

Hi-Media snaps up Fotolog

Gunning for a bite of the photo-sharing cherry

Internet Security Threat Report 2014

Fotolog has joined the long list of photo-sharing social [cough] networking websites to be snapped up by a media company hungry for a slice of the Web 2.0 pie.

European interactive advertising agency Hi-Media Group has bought Fotolog for a combined stock and cash deal of $90m. The deal comes hot on the heels of News Corp's acquisition of Photobucket in May this year.

The New York-based photo-sharing site, which boasts it has doubled its member accounts to 10 million users this year, first launched in May 2002.

Hi-Media CEO Cyril Zimmermann said: "We think that social networks are one of the pillars of what the internet is and will be important in the years ahead, especially when underpinned by simple mechanisms."

Expressing an eagerness to make the site a tasty money spinner, Zimmermann added:

"We are also convinced that Hi-Media can benefit substantially from Fotolog's efforts to generate maximum revenues from its audience thanks to the advertising and micro-payment services that Hi-Media has developed over the past decade."

Fotolog said that the firm's fastest growing markets included Italy, Portugal and Spain as well as extending growth in Latin America.

It said it expected to see revenue of $2.3m for 2007. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.