Yahoo! buys! fantasy! sports! site!
Still searching for social success
Yahoo! is making another attempt to strengthen its weak social networking products by buying Citizen Sports.
The site offers various fantasy leagues and ways for fans to link the site's applications to their social network profiles. Yahoo! said it would be integrating its sports content into Citizen Sports.
Citizen Sports runs news and scores from sports including football, hockey, soccer, baseball, racing, rugby, hockey and cricket.
The site, based in San Francisco, claims 39 million monthly unique visitors in the US. It was started by Mike Kerns and Jeff Ma in 2004.
Yahoo! hopes to use the site to help provide it with some kind of social networking strategy.
The deal should close in the second quarter. Financial details were not released.
Yahoo!'s press release is here. ®
Grow! Up! El! Reg!
The! many! exclamation! points! are! juvenile!
Even describing social networking as a "product" is dodgy. Do they make money from the social networking? Nope - it's just a vehicle for advertising, that's all. And the advertising doesn't bring in any significant income anyway, compared to the income you could expect from investing that much money in any other business. This doesn't say how much money changed hands, but you can expect it's in the millions. If you invested that in a few clothes shops, or coffee shops, or damn near anything else, you'd be unlucky not to be getting a decent return on the investment within a year, and ongoing revenue year-on-year. Meantime Facebook *still* hasn't broken even, never mind ever turning a profit.
Still smiling at the use of ! after every word in the title.
I know it's an old joke but it makes me chuckle every time.
Excellent! work! El! Reg!