Wednesday, February 8, 2012
paidContent Sold To GigaOm
paidContent.org, the online news site started by Rafat Ali, and later sold to Guardian Media, has been sold to GigaOM, the online news and media site founded by Om Malik. Financial terms of the acquisition were not disclosed. According to paidContent, the combined group will now have more than 20 writers and editors on both the East and West coasts and in Europe. paidContent said that Guardian News & Media will take a minority stake in GigaOm as part of the acquisition; GNM was advised by Coady Deimar Partners in the deal. Guardian News & Media joins other Reed Elsevier Ventures, Alloy Ventures and True Ventures, the other shareholders in GigaOm. Guardian acquired ContentNext, the parent firm of paidContent, in 2008.