United Online Sells StayFriends

Woodland Hills-based United Online has sold its StayFriends social networking site, to German company Stroer Content Group GmbH, the company said Thursday afternoon. United Online said it will receive 16.0 million euros ($18.3M US) for StayFriends. United Online said the sale is part of a strategy to exit the social media business, and is part of an ongoing evaluation of "strategic alternatives" by JMP Securities and work by ACXIT Capital Management. StayFriends included sites in Germany, Sweden, Austria, Switzerland, and France, and offered up tools to help connect users to old high school classmates, similar to United Online's former Classmates unit.