About.com Consumes ConsumerSearch.com
About.com is all about acquisitions these days: Calorie-Count.com was swallowed up late last year, and UCompareHealthCare.com was brought into the corporate fold just last month. Now ConsumerSearch.com, which is all about “reviewing with reviews,” has been bought by About.com.
ConsumerSearch.com has, according to a press release, just six employees (including its founder, CEO, and editor-in-chief, Derek Drew). Yet, in a definite win for the “size doesn’t matter” crowd, the site sold for $33 million, and About.com’s president and CEO, Scott Meyer, believes the purchase will have an important impact on his company.
“This acquisition will greatly expand About.com’s reach in numerous categories, substantially enhance our library of content and increase our advertising inventory, driving additional revenue growth,” Meyer stated.
Then, perhaps supposing that a little plug for his newest property wouldn’t hurt, Meyer continued, “ConsumerSearch.com is the premier resource for consumer product meta-reviews that enable readers to make intelligent purchasing decisions quickly and accurately.”
The self-promotion continued on another level in a New York Times article. “About.com, among the 15 most visited Web sites by unique monthly visitors, was acquired by the Times Company for $410 million in 2005,” the paper reported. “It had 33.5 million unique visitors in March 2007, 14 percent higher than a year earlier.”
But, aside from acting as advertising, this information also provides a small window into the financial situation. The Times Company, after all, is a multi-billion dollar corporation, so a few dozen million for ConsumerSearch.com doesn’t amount to much (in a trickledown sense).
This latest purchase by About.com makes for three in eight months, however, which constitutes something of a spending spree. About.com is definitely all about the acquisitions.