Fox Buys Photobucket and Flektor

    May 30, 2007

Fox Interactive Media (FIM) has confirmed they are buying Photobucket and Flektor. Photobucket is a photo and video sharing service and Flektor allows users to create videos and slide shows with their photos.

"The acquisition of these two companies is a perfect strategic fit for us that reinforces FIM’s leadership in user-generated content," said Peter Levinsohn, President of Fox Interactive Media.

"As a leading site for creative expression Photobucket extends our reach among personal media sharing enthusiasts and the innovative new entrant Flektor brings highly-differentiated new tools to the table that will drive the next generation."

Photobucket has more than 42 million users and 47 percent of them link to social networks such as FIM’s MySpace. Photobucket will remain in operation as a standalone site and its technology will be used to improve sites on the FIM network.

"Becoming part of the Fox Interactive Media network will have a tremendous and positive impact on our ability to serve our users’ needs," said Alex Welch, CEO, Photobucket.

"We plan to continue developing innovative tools that enhance self-expression and allow our users to have the best media sharing, linking and searching experience on the Web".

Flektor’s technology will allow users to edit video and audio content in real-time. Flektor users will have the choice of publishing their work or will be able to embed it on a number of Web sites, blogs or social network profile pages.

"We founded Flektor to give Internet users the tools they need to easily create, connect and share content," said Jason Rubin, co-founder of Flektor.

"Becoming a part of the Fox Interactive Media network will enable us to deliver these tools to the broadest possible online audience."

Terms of the deals were not disclosed.