I’ve been calling for some time here for some more interesting companies in the general area of weather, traffic, etc. With that in mind, I was intrigued — and more than a little envious, weather porn guy that I am — to see that Weather.com has brought in Steve Hassett to head their new ventures group.
Finally, the Weather Channel is actually going to do stop talking about the weather and do something about it. I have a call in to Steve to chat a little more about his plans, but here is the release:
THE WEATHER CHANNEL Interactive FORMS GROUP TO seek out ACQUISITIONS
Steve Hassett Named Vice President TWCi New Ventures;
Company seeks to expand through acquisition
ATLANTAâ€“ February 5, 2007 — The Weather Channel Interactive (TWCi) announced the formation of a new ventures group that will look for acquisitions and new business opportunities for TWCi. Steve Hassett, formerly CEO of iTendant, has been hired to lead the group.
The TWCi new ventures group is seeking opportunities for expansion through acquisition of companies which will complement the core assets of TWCi, ideally any natural extensions of weather.com. Targets could include but will not be limited to travel, vacations, health, recreation, playing and watching sports, traffic and other local content and green living.
TWCi will be targeting profitable or nearly profitable companies with revenue of $1- $50M+ and scalable. The transaction would be an acquisition, not investment and preferably would have a strong management team that is willing to commit one to two or more years. In addition to weather.com, TWCi currently operates two complementary sites; forGetaway.com, a vacation home rental site and OneDegree, a site dedicated to the discussion of climate change.
And speaking of weather, if someone would explain to my why this Midland Weather & Civil Emergency Alert Monitor is suddenly selling so well, I’d love to know. Who buys these things?