Wednesday, August 12, 2015
United Online Sells Classmates For $30M
Woodland Hills-based United Online said this morning that it has sold its Classmates subsidiary, to Intelius Holdings, for a mere $30M in cash. According to United Online, the sale is a "great outcome" for the company, and will allow it to add additional capital to its other existing businesses. United Online said that Classmates was a non-strategic asset for the company. United Online had acquired Classmtes.com for $100M back in 2004, and had even attempted an IPO of the unit in 2007. Classmates gives users access to online copies of high school yearbooks, as well as names and lists of former high school classmates.