NowPublic sold for $25 Million

Posted by Rob Lewis

PaidContent's David Caplan is reporting that Vancouver's NowPublic has been sold for $25 Million.

You’re reading it here first: After several months of trying to get the deal done, Citizen-J site NowPublic is about to be sold to a non-traditional buyer: local news network Examiner.com, which is controlled by Philip Anschutz’s Clarity Media Group, we have learned. The price is around $25 million range, according to a source, including a part of that as an earnout. Also from a source, the other potential buyers included AP, Fox News, Glam Media and even Technorati, though not clear who all were interested in late stages.

NowPublic was started in 2005 and has raised about $12 Million from investors such as Rho Ventures, Brightspark and the Working Opportunity Fund.

It looks like NowPublic has up for sale since we speculated that CanWest might be interested.

Congrats to Co-founders Leonard Brody and Michael Tippett on the exit. It should be interesting to hear what Broday has to say during his upcoming keynote at the BC Innovation Council's Connect 09 conference.

Company:
NowPublic
Website:
http://www.nowpublic.com
Location:
Vancouver, British Columbia, Canada

NowPublic is a participatory news network which mobilizes an army of reporters to cover the events that define our world. In twelve short months, the company has become one of the fastest growing news organizations with thousands of reporters in over 140 countries. During Hurricane Katrina, NowPublic had more reporters in the affected area than most news organizations have on their entire staff. NowPublic... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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