Webshots Sold for $45M as CNET “Refocuses” its Business - Rmail
Posted by elveston priory at 2:24 am
CNET has sold one of its online properties, Webshots, to American Greetings today, for $45 million. This is the first time in a while that CNET has sold one of its properties.
Purchased by CNET in 2004, Webshots‘ photo-sharing tools were at one point considered to be central to CNET’s online growth as a large and all-encompassing brand. The entrants like Flickr and Photobucket, however, have seemingly deterred Webshots’ growth in the past year, though the site still remains successful, with about 7 million uniques monthly, and a reported 400 million digital photos stored.
CNET’s reason behind divesting in Webshots is expected: it will allow CNET to refocus on its core strengths. Yahoo has also recently divested in one of its online shopping sites, Kelkoo, and AOL is still in the process of slimming down, with a massive layoff and the possible selling of its dial-up service.
[via paid content]
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