I was just saying to a fellow blogger the other day that it will only be time before a bit blog network sells out to a bigger web entity for some massive amounts of cash. Well today seems to be that day with Threadwatch reporting that AOL is about to by Weblogs Inc!
Paid Content writes of the deal by saying:
“This is a very quick exit: the company was founded about two years ago, and took some money from Mark Cuban a year down the line. For Calacanis, this is his second company being sold in a space of about two years…his original company Rising Tide Studios was first sold to Wicks Business Information, which in itself was bought out by Dow Jones.”
How much will they get? I guess this will depend upon what the deal includes and how involved the Weblogs Inc team stays involved with the project. Estimates of what the deal is worth at Paid Content range from $20,000,000 to $35,000,000.
The deal is expected to be announced officially this week.
Update: Interesting commentary on the sale at Wealth Junkie.