Alloy Buys Sconex

A youth-centric online community site has been acquired, but it’s not Facebook. This time around it’s Sconex, a social site for high school students, and the $6.1mm all-stock acquirer is Alloy Media. The latter is a money-losing and highly leveraged marketing and media company that went public a year or so ago.

Some entertaining info on Sconex here, including that it is the 6,958th most popular site on the web, and an allegation that the site’s users are a little on the risque side. You can also scan this article in Forbes.

[Update] As an aside, while Facebook hasn’t been acquired, Om thinks it should have been. And I agree. Turning down a reputed $750mm offer is, in the frothy circumstances, just plain greedheaded and dumb.

Related posts:

  1. More Fuel for the “Apple Buys Tivo” Fire
  2. imeem Buys Candy Labs
  3. Google Buys Writely and the Calacanis Watch
  4. Cramer: GM Goes Bankrupt; Murdoch Buys the WSJ
  5. Analytics Uber Alles: Google Buys Measuremap

Comments

  1. Dick Costolo says:

    Greedheaded? Did you just invent that word? I’m not saying I don’t like it, mind you. This is a greed-betitled blog, after all.

  2. I should have said greedheaded ™. My error ;-)

  3. Brian Phipps says:

    I might nominate “greedstricken,” since the
    news does seem to reveal a deep-seated trait that’s also kinda sad.