LiveUniverse, the online media firm operated by Brad Greenspan, has made another small acquisition: it has bought the troubled online personalized homepage firm Pageflakes. The transaction was a combination of cash and stock, but further terms were not disclosed. Recently LU bought the online video site Revver.
Pageflakes was launched at the end of 2005. The site began in Germany, but is now headquartered in San Francisco, CA. The company was initially privately funded. Balderton Capital was the investor in the company. Last week Gigaom reported the company was in trouble, with cash running out, and that it was seeking a buyer.
Pageflakes CEO Dan Cohen will stay in his current role, and in addition will assume expanded duties as SVP of LiveUniverse. Other sites in LU's portfolio include LiveVideo social video site, the TuneBlast music network, and the LiveTime men's network.
By Rafat Ali