Jossip Possibly For Sale

    March 13, 2008

Dates, dollar amounts, and the names of potential buyers all remain more or less unknown, but rumor has it that Jossip Initiative (which is anchored by "the gossip’s gossip sheet") is up for sale.

Jossip Might Be For Sale
 Jossip May Or May Not Be For Sale

The most solid piece of information is a confirmation of Jossip’s connection to a bank.  Andrew Mayve, a vice president at Sperry Mitchell, told Keith J. Kelly, "[Jossip’s founder] has retained me as his banker for purposes of evaluating any business opportunities that come his way."

This could be important; in mid-December, Bebo hired a bank, and earlier today, AOL’s $850 million acquisition of the social network was announced.

On the other hand, the one suitor mentioned by some of Kelly’s sources doesn’t seem all that interested.  An "insider" at Advance Publications (the parent company of Conde Nast and Fairchild Publications) told him, "The odds of us trying to buy the site are between zero and negative numbers."

Also, as the stock market seems to be taking yet another dive today, it looks unlikely that a lot of companies will be clamoring to buy things.  But we’ll keep an ear open; it’s not as if gossip would become any less interesting in a recession.