Brij Singh's Blog

May 14, 2008

Comcast buys Plaxo – $150 million proof that media consumption is now a social activity

Filed under: Tech — Brij @ 6:59 pm

Finally Comcast bought Plaxo. We have been hearing rumors of this event for some time now.

It's equally fun to watch how Arrington is matching CNet on every news story out there. He managed to get most important bit of information. Price tag:

The rumors were accurate: Comcast will announce their acquisition of social contact list Plaxo today. Financial terms are not being disclosed, but the purchase price is between $150 and $170 million. Plaxo, which was founded in 2002, has raised just under $30 million in venture capital.

Over at CNet, Sam Schwartz, exec VP of Comcast has this to say:

"The address book and Pulse combined will change the way people navigate through thousands of choices of content. You could know what shows your friends are watching, what they are downloading or what they are recording on DVR. Plaxo can help us build that vision. It's less about the Comcast.net portal and more about bringing the social aspects to all media consumption."

Amen to "bringing the social aspects to all media consumption". Plaxo wil join Comcast Interactive group.

Congratulations John. Pulse finds a new home.

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