Internet Business Listings Company YP Buys Classifieds Network LiveDeal For $12 Million
By David Kaplan - Fri 08 Jun 2007 09:04 AM PST
Online business listings manager YP Corp. has acquired internet classifieds network LiveDeal. Under the terms of the purchase, LiveDeal’s shareholders received 15,968,514 shares of YP common stock, which Alarm Clock said was valued at $12 million. The company will operate as a wholly owned subsidiary of YP. The two companies are working out how to leverage one another’s content, sales teams and technology. YP plans to use LiveDeal’s platform to support its four principal marketing channels (directories, mobile services, classifieds and advertising/distribution networks) into what both are billing as a hyper-local marketing solution for businesses and consumers. Release
Posted in: VC+M&A
