Friday, January 18, 2008
AOL to buy Where Are You Now (WAYN) rumour: TechCrunch says yes, WAYN says no
Erick Schonfeld at TechCrunch claims to have a solid inside story that AOL is in talks to buy Where Are You Know (WAYN) for $200M. The company reportedly has 9M registered users and is on course to earn $4.5M in revenue this year.
If true confirms my recent post about travel meta-search and social networking being a media business and therefore has a stronger alignment with media companies that OTAs. Is also hot on the heals of the smaller but similarly themed News Corp investment in Asian meta-search company Bezurk.
According to Techcrunch WAYN raised $11 million in 2006 from DFJ Esprit and a gaggle of British entrpreneurs, including Lastminute.com founder Brent Hoberman.
Thanks to a loyal reader for sending through. I have been travelling for a number of days and feeling daunted by the number of stories in my RSS reader and email in my inbox.
UPDATE - Thanks to Kevin of Travolution who pointed me to the comments from WAYN spokesperson Annika Erskine in the Techncrunch article denying the rumour outright.