March 1, 2007
Citysearch Buys InsiderPages
VentureBeat is reporting that Citysearch/IAC is the mystery buyer of InsiderPages. A purchase price was not disclosed. The formal announcement will apparently come later today or early tomorrow [now confirmed, see below]. I would guess the purchase price wasn’t more than 2x what the investors put in (TechCrunch guesses $13 million), given that the company was being shopped from a position of weakness. IAC as a buyer is both appropriate and fascinating for many reasons.
I've posted more on this on my personal blog.
Postscript: It's now confirmed, press release below:
