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WebMediaBrands Nabs Inside Network For $14M

WebMediaBrands has acquired rival online media publisher Inside Network for $14 million in cash and stock, reports VentureBeat. A publicly trade company, WebMediaBrands sees the deal as part of its expansion into social media, according to Justin Smith, founder of Inside Network.

"Smith tells VentureBeat that Inside Network's full team of six full-time employees will join WebMediaBrands. That staff includes former VentureBeat writers Eric Eldon and Kim-Mai Cutler. Eldon is editor of Inside Network's news sites, such as Inside Facebook and Inside Social Games. Cutler, meanwhile, is lead writer for Inside Mobile Apps.

"Smith said that both companies will combine their resources to focus on the growth of the social apps economy," VetureBeat writes. Along with its news sites, Inside Network also puts on events such as Inside Social Apps and publishes research through AppData, which gathers stats on Facebook apps. Inside Network also publishes reports on the size of the virtual goods business and does other research.

Read the whole story at VentureBeat »

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