Toronto’s ScribbleLive has acquired live blogging platform competitor CoveritLive from Demand Media. The terms of the deal were not disclosed. Demand Media acquired CoveritLive back in 2011 and is heavily used by leading media publications such as Yahoo, ESPN, Time, News Corp., FOX News, and the BBC.
With this acquisition, ScribbleLive now have over 1500 customers in all sectors of the market. The imminent future will see the two companies operate independently. Scribble Technologies CEO Vincent Mifsud stated, “Together the two companies are a real contender in this market, and I think this shows that we do have very aggressive growth plans… If we’re not in the lead we’re definitely contenders to lead the market, and that’s the main goal of what we’re trying to build.”
Demand Media also sold Creativebug, which is being dubbed as site that provides online video workshops for arts and crafts enthusiasts, to Otter Media.
“These divestitures allow Demand Media to refocus attention from nascent businesses in emerging markets to opportunities that are more in line with our overall growth strategy,” said Shawn Colo, interim chief executive officer of Demand Media. “By streamlining our approach to the business, we can more effectively connect passionate audiences with engaged experts, artists and opinion makers across our consumer lifestyle brands and our Content Solutions partners.”
