Social news site Newsvine has just been acquired by MSNBC Interactive News LLC for an undisclosed amount, according to an AP wire.
“MSNBC, which is jointly owned by Microsoft Corp. and NBC Universal, did not disclose financial terms of the deal late Sunday. NBC Universal is a joint venture of General Electric Co. and Vivendi SA.
Newsvine launched in 2006 and employs six people. Mike Davidson, its co-founder and chief executive officer, said about a million people come to the site each month to read articles and submit their own articles and commentary.
Charlie Tillinghast, president of MSNBC Interactive News, said Newsvine will remain a stand-alone site. MSNBC.com will provide technology resources to the startup and add links to drive more visitors to Newsvine. MSNBC.com gets about 29 million unique visitors a month, he said.
MSNBC also plans to incorporate some of Newsvine’s social and community aspects into MSNBC.com, Tillinghast said.”
Newsvine.com pays users for their stories and displays articles based on user rankings, an almost similar service provided by Digg.
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lucky mike. i’ve read two years ago, that he snatched the dropped domain of newsvine.com for $369
http://tinyurl.com/43flw