PaidContent acquired by Britain’s Guardian Group for $30 million

11 July, 2008
ContentNext, a US-based company which owns popular blogs like PaidContent, MocoNews and ContentSutra, has been acquired by Britain’s Guardian Media Group for $30 million, reports BoomTown. ContentNext, which was founded by Rafat Ali in 2002, also organises conferences and publishes reports.

ContentNext is financial backed by Alan Patricof’s Greycroft Partners, which invested an undisclosed amount in 2006. Long-time digital media executive Larry Kramer is on its board and ContentNext recently hired media executive Nathan Richardson as its CEO.

“This starts the 2.0 phase of our company ContentNext Media: we will remain a stand-alone business under GNM (Guardian News & Media),” Rafat Ali has said, adding, “Expect some very interesting things from us later this year, including continued expansion and deepening of our activities.”
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ContentNext, a US-based company which owns popular blogs like PaidContent, MocoNews and ContentSutra, has been acquired by Britain’s Guardian Media Group for $30 million, reports BoomTown. ContentNext, which was founded by Rafat Ali in 2002, also organises conferences and publishes reports. Read More

   
by Arun Tyagi on 11 July, 2008
Submitted by Arun Tyagi (not verified) on Sat, 07/12/2008 - 04:26.

Market was expecting this since it was cooking for some good time. Congrats to Rafat!

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