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Ethnic Social Network CommunityConnect Bought By RadioOne Networks For $38 Million

This story was written by Rafat Ali.
CommunityConnect, one of the oldest social networks around which has been focusing on different ethnic groups, has been sold to a non-obvious buyer: Radio One, the radio network focused on African-American and urban listeners, has bought it for about $38 million. CC owns,, and, and says has over 20 million members. Ben Sun, CCI's president and founder, will continue to run the company.

Rothschild was the banker for Radio One; Bear, Stearns was the banker to Community Connect.

By Rafat Ali