CBS Picks Up Dotspotter
$10 million could buy a lot of stuff – cars, recliners, you name it. Or it could – and apparently did – buy one celebrity gossip site. The $10 million came from CBS, and went to Dotspotter.
By itself, Dotspotter seems to represent a questionable investment. It’s less than a year old, is not exactly popular, and, in the words of Mathew Ingram, has “a user interface and site design that seems to have been designed by colour-blind gerbils.” Despite the success of TMZ, I’d rather have an office full of La-Z-Boys.
CBS may also have had its eye on Anthony Soohoo, though; Soohoo was a vice president at Yahoo, and is Dotspotter’s co-founder and CEO. Perhaps this added incentive to buy will keep people from whispering about a bubble.
Either way, the Dotspotter purchase appears to be part of a trend. As Valleywag noted, CBS has previously acquired Wallstrip and Last.fm. It’s created communities, brought content online, and in related news, CBS’s “Entertainment Tonight” just signed a promotional deal with Ask.
CBS may or may not fully understand Web 2.0, but it sure is trying to embrace it.