iB3 Networks Goes Social: Buys Entertainment Community And Online Dating Site

This story was written by Tameka Kee.
Web-hosting firm and online network iB3 Networks (OTC BB:IBNW) is adding a pair of social media properties to its roster: Plugmeister.com, an online community where entertainers can upload and sell their video and audio clips, and MadisonAvenueMatch.com, an online dating service slated to launch in early 2009.

iB3 will acquire MGV Communications, parent company of Plugmeister, in an all-stock deal, though the price was undisclosed. According to Eric Schmidt, IB3's CEO, the site separates itself from other social nets because it gives artists a place to sell their content directlynot just promote it. Release.

Meanwhile, iB3 picked up NYC Mags, Inc., parent company of MadisonAvenueMatch.com for $75K, per Columbus Business First. NYC Mags' founder Michael Jacobson is the former publisher of Donald Trump's Trump Magazine and he'll serve as the dating site's president as part of the deal. The subscription-based service will be geared toward single professionals in NY.

By Tameka Kee